Glossary social sience

Economic activity: the different processes involved in the production and consumption of goods and services.
Economic agents: a person, group, or institution involved in the economy.
Goods: tangible economic products that are usually consumed after production
Services: ecoomis activities that are intangible
Production: an activity that provides goods and services for consumption
Distribution: the marketing, delivery and sell of goods and services
Marketing: the act of researching, promoting and adversiting a product or service in order to sell it
Consumption: the use of a product or service to satisfy needs or desires
Supply: availability of something  for use or sell
Demand: the desire to own something in the market and the willingness to pay for it
Inflation: a rise in the general level of prices of goods and services in the economy or a decrease in value of the purchasing power of money
Profit: the monetary gains of a business after all expenses have been met
Tax: a monetary contribution to the government requiered of people, groups or business
Raw material: material on which a particular manufacturing process is carried out
Employer: a person that emplys workers
Employee: a person who is hired to work for another  or for a business,firm etc  in return for payment