Economic
Definition
Economic refers to anything related to money, wealth creation, production, distribution, consumption of goods and services within an economy.
Related terms
Supply and Demand: The relationship between how much of a product is available (supply) versus how much consumers want it (demand), which determines its price.
GDP (Gross Domestic Product): The total value of all goods and services produced within a country's borders in a specific time period, often used as an indicator of economic health.
Inflation: The general increase in prices over time, reducing the purchasing power of money.
"Economic" appears in:
Subjects (2)
AP European History
AP Human Geography
Study guides (1)
AP Spanish Language - 1.4 Global Challenges
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About Us
About Fiveable
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Careers
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Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Cram Events
Merch Shop
Crisis Text Line
Help Center
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.