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By Ace Kim
Tax or duty to be paid on a class of imports or exports.
Decline in activity across the economy for more than a few months.
Gross domestic product, the best way to measure a country's economy
Economics branch that studies the behavior and performance of an economy.
Shifting tasks, operations, jobs or processing to an external third-party.
Imposing charges on citizens and businesses to bring in government money
Free trade agreement between the USA, Mexico and Canada
Bringing goods or services into a country from abroad for sale.
Sustained, long-term downturn in economic activity in one or more economies.
Phenomenon that occurs when a person seeking a job cannot find work.
Market structure in which a small number of firms has the majority of market share.
An increase in the level of economic activity and of the goods and services available.
Limited quantity of a product that is allowed to be produced.
Exclusive possession or control of supply or trade of a commodity or service
Shipping commodities to other countries for sale or exchange