Category: Economics

13. income effect: a change in quantity demanded when the consumers income changes
14. conversely مقابل: in exchange
15. substitutes بدائل: competing products that can be used in place of each other
16. change in demand: a shift of the whole demand curve to right or left
17. determinants: causes/shifters
18. consumer tastes الآراء: what buyers want, in demand
19. related مماثل: similar, alike
20. expectations توقعات: what should happen, predictions
21. refund إعادة مال: money returned
22. complements تكملة: products that affect each other in prices and demand

Econ Chapter 4 Vocab (Demand)

1. Microeconomics: the study of small units of factors of an economy
2. Demand اقتصاديات الطلب: wanting to buy a product
3. Demand schedule جدول الطلب: a table economists study demand
4. Quantity كمية: the amount of something
5. Demand curve: shows the quantity of a product at possible prices
6. Data البيانات: facts and numbers used to study something
7. Law of Demand: says consumers will buy more of a product at a lower price and less of a product at a higher price.
8. sum مجموع: total (like addition in math)
9. utility خدمة: being useful or making profit
10. satisfaction رضا: happy with something
11. marginal utility رضا إضافي: extra satisfaction from having 1 or more of the same product
12. diminish تخفيض: decrease, less

37. free-enterprise system مؤسسة حرة: capitalist/market economy
38. economic freedom: allowed to choose what you buy and how to earn money
39. income سياسة: money you make
40. voluntary exchange: buyers and sellers freely and willingly engaging in market activity
41. private property rights: we can own and control land
42. profit ربح: actual money made
43. profit motive الدافع الربح: wanting to get more money
44. entrepreneur مقاول: a person who starts a business
45. risk خطر: the chance of losing something
46. benefits فوائد: things that help you
47. consumer sovereignty قوة: buyers’ power (kings)
48. intervene تدخل: take over
49. mixed economy اقتصاد مختلط: people can spend and work freely with some government control (U.S.A.)
50. consumers المشترين: the buyers

21. freedom الحرية: able to choose
22. equity حقوق الملكية: equality, fair
23. minimum wage الحد الأدنى للأجور: the least money an employer can legally pay
24. protection الحماية: security
25. Social Security الضمان الاجتماعي: program that takes care of retired workers and people with disabilities
26. employment العمالة: jobs
27. inflation: rise in prices of goods
28. fixed income الإيرادات الثابتة: income that does not increase as prices go up
29. fluid: changing constantly
30. stability الاستقرار: not changing, normal
31. economic growth النمو الاقتصادي: allows people to have more goods and services
32. policy السياسة العامة: a rule
33. conflicting متضاربة: fighting,arguing
34. resolved حل: fixed, ended
35. choice الاختيار: option
36. restriction التقييد: not allowed, prohibited

New Chapter means New Vocab!

1. Economic System النظام الاقتصادي: how a nation uses its resources to satisfy its people’s needs and wants.
2. Society المجتمع: a group of people in an area
3. Traditional Economy الاقتصاد التقليدي: use of scarce resources are based on customs, ritual, or habits

4. Advantages المزايا: something good/positive/helpful
5. Disadvantage العيب: bad/negative/hurts
6. stagnation: not changing
7. Command Economy قيادة الاقتصاد: central authority (government) makes all major economic decisions
8. restricts يقيد: stops
9. bureaucracy: government does everything
10. Market Economy اقتصاد السوق: the people make their own decisions for their best interests
11. Market – السوق: place where buyers and sellers exchange goods and services
12. Capitalism الرأسمالية: where citizens own the factors of production and decide their use (private businesses)

13. inability – عدم القدرة: not able to do something
14. competition – المنافسة: trying to make more money than others
15. Mixed Economy – الاقتصاد المختلط: economy with a combination of traditional, command, and market economies

16. Socialism: Mixed system where the government owns some factors of production and also provides for its people’s basic needs

17. Communism: all production owned by the government
18. strict صارمة: demanding
19. collectively – جماعيا: working together
20. inefficient – غير فعالة: wasting time, failing to produce

These will be the final words this chapter.  Prepare for a test at the end of the week! Good luck! Practice, say them, and review them.

43. Economists الاقتصاديون: person that studies economic systems
44. choices الخيارات: options, alternatives
45. trade-off المقايضة: a different option for something
46. expertise الخبرة: something you’re great at
47. opportunity cost تكلفة الفرصة البديلة: the cost of the 2nd best alternative use of money, time, or resources.

48. maximum الحد الأقصى: most
49. Production Possibilities Frontier (PPF): a graph that represents the maximum amount of goods and/or services an economy can produce when using all its good resources.

50. output الناتج: products that are made
51. economic model النموذج الاقتصادي: an easier way to read using graphs, charts, or drawings.

52. constant ثابت: دائما: always
53. solution الحل: الإجابة على مشكلة: answer to a problem
54. free enterprise economy اقتصاد المؤسسات الحرة: economic system where private businesses have freedom to work for profit with limited government interference (like U.S.A.)

55. profit الربح: the extra money that you make
56. standard of living مستوى المعيشة: quality of life

 

23. command: a want
24. good: a product that is useful, kind of scarce, and transferable to others
25. consumer good: goods intended for final use by people
26. consumers: people who use or consume goods to satisfy their wants and needs
27. durable good: lasts for at least 3 years
28. nondurable good: lasts fewer than 3 years
29. service: work/labor performed by someone
30. value: worth in terms of dollars
31. market: place where buyers and sellers exchange
32. monetary: having to do with money
33. paradox of value: contradiction between essential items and nonessential items
34. utility: useful and provide satisfaction
35. exchange: a trade
36. wealth: having a lot of money
37. funds: money
38. economic growth: increase in a nation’s total output of goods and services over time.
39. productivity: how well something does or sells
40. specialization: to focus and be good at one thing
41. human capital: the sum of people’s skills, health, knowledge, and motivation
42. economic interdependence: when 2 or more businesses or countries need each other to make money

23 – الأمر
24 – جيدة
25. المستهلك جيدة
26 – المستهلكين
27. جيد دائم
28. جيد لا يصدق
29 – الخدمة
30 – القيمة
31 – السوق
32 – النقدية
33 – مفارقة القيمة
34 – فائدة
35 – التبادل
36 – الثروة
37 – الأموال
38 – النمو الاقتصادي
39 – الإنتاجية
40- التخصص
41 – رأس المال البشري
42 – الترابط الاقتصادي

23. command: a want
24. good: a product that is useful, kind of scarce, and transferble to others
25. consumer good: goods intended for final use by people
26. consumers: people who use or consume goods to satisfy their wants and needs
27. durable good: lasts for at least 3 years
28. nondurable good: lasts fewer than 3 years
29. service: work/labor performed by someone
30. value: worth in terms of dollars
31. market: place where buyers and sellers exchange
32. monetary: having to do with money
33. paradox of value: contradiction between essential items and nonessential items
34. utility: useful and provide satisfaction
35. exchange: a trade
36. wealth: having a lot of money
37. funds: money
38. economic growth: increase in a nation’s total output of goods and services over time.
39. productivity: how well something does or sells
40. specialization: to focus and be good at one thing
41. human capital: the sum of people’s skills, health, knowledge, and motivation
42. economic interdependence: when 2 or more businesses or countries need each other to make money

 

Economics Vocab — Chapter 1.1

1. economics: dealing with more wants and less resources

2. scarcity: little or few resources

3. need: required for basic survival

4. want: something we like but don’t need

5. land: natural places

6. capital: tools, equipment, and factories used to produce goods

7. labor: work/production

8. entrepreneur: someone who starts a business

9. Gross Domestic Product (GDP):dollar value of a country’s goods and services within 1 year

10. community: area or group of people

11. satisfied: happy with what you have

12. resource: something that’s available for use

13. produce: to make

14. equipment: helps do work

15. skills: abilities/what you can do

16. economy: the way money is made and used

17. employee: a person who works for money

18. employer: the business who hires workers

19. analysis: a deep study of something

20. explanation: to teach or make known

21. prediction: to think ahead

22. income: money that is made by a person

1. الاقتصاد: التعامل مع المزيد من الرغبات وأقل الموارد

2 – ندرة: موارد قليلة أو قليلة

3. الحاجة: المطلوبة لبقاء الأساسية

4. نريد: شيء نحب ولكن لا تحتاج

5. الأرض: الأماكن الطبيعية

6. رأس المال: الأدوات والمعدات والمصانع المستخدمة لإنتاج السلع

7. العمل: العمل / الإنتاج

8. رجل الأعمال: شخص يبدأ الأعمال التجارية

9. الناتج المحلي الإجمالي: قيمة الدولار للسلع والخدمات في البلاد خلال سنة واحدة

10. المجتمع: منطقة أو مجموعة من الناس

11. راض: سعيد مع ما لديك

12. الموارد: شيء ما هو متاح للاستخدام

13. إنتاج: لجعل

14. المعدات: يساعد على العمل

15. المهارات: قدرات / ما يمكنك القيام به

16 – الاقتصاد: طريقة صنع الأموال واستخدامها

17. الموظف: الشخص الذي يعمل من أجل المال

18. صاحب العمل: العمل الذي يستأجر العمال

19. التحليل: دراسة عميقة لشيء ما

20. التوضيح: لتعليم أو جعل معروفة

21. التنبؤ: للتفكير في المستقبل

22 – الدخل: الأموال التي يقوم بها شخص ما

Economics Vocab — Chapter 1.1

1. economics: dealing with more wants and less resources

2. scarcity: little or few resources

3. need: required for basic survival

4. want: something we like but don’t need

5. land: natural places

6. capital: tools, equipment, and factories used to produce goods

7. labor: work/production

8. entrepreneur: someone who starts a business

9. Gross Domestic Product (GDP):dollar value of a country’s goods and services within 1 year

10. community: area or group of people

11. satisfied: happy with what you have

12. resource: something that’s available for use

13. produce: to make

14. equipment: helps do work

15. skills: abilities/what you can do

16. economy: the way money is made and used

17. employee: a person who works for money

18. employer: the business who hires workers

19. analysis: a deep study of something

20. explanation: to teach or make known

21. prediction: to think ahead

22. income: money that is made by a person

1. الاقتصاد: التعامل مع المزيد من الرغبات وأقل الموارد

2 – ندرة: موارد قليلة أو قليلة

3. الحاجة: المطلوبة لبقاء الأساسية

4. نريد: شيء نحب ولكن لا تحتاج

5. الأرض: الأماكن الطبيعية

6. رأس المال: الأدوات والمعدات والمصانع المستخدمة لإنتاج السلع

7. العمل: العمل / الإنتاج

8. رجل الأعمال: شخص يبدأ الأعمال التجارية

9. الناتج المحلي الإجمالي: قيمة الدولار للسلع والخدمات في البلاد خلال سنة واحدة

10. المجتمع: منطقة أو مجموعة من الناس

11. راض: سعيد مع ما لديك

12. الموارد: شيء ما هو متاح للاستخدام

13. إنتاج: لجعل

14. المعدات: يساعد على العمل

15. المهارات: قدرات / ما يمكنك القيام به

16 – الاقتصاد: طريقة صنع الأموال واستخدامها

17. الموظف: الشخص الذي يعمل من أجل المال

18. صاحب العمل: العمل الذي يستأجر العمال

19. التحليل: دراسة عميقة لشيء ما

20. التوضيح: لتعليم أو جعل معروفة

21. التنبؤ: للتفكير في المستقبل

22 – الدخل: الأموال التي يقوم بها شخص ما