GLOSSARY UNIT 6 GEOGRAPHY

-ECONOMIC ACTIVITY: actions that involve the production, distribution and consumption of goods and services at all levels within a society.

-ECONOMIC AGENT: a person, company, or organization that has an influence on the economy by producing, buying, or selling.

-GOODS: possessions that a person haves.

-SERVICES: work performed for remuneration.

-PRODUCTION: the act of bring something into existence. 

-DISTRIBUTION: the act of dispersing or the condition of being dispersed.

-MARKETING: the act of buying and selling in a market.

-CONSUMPTION: the act or process of consuming (to use up).

-SUPPLY: to furnish with something that is required.

-DEMAND: to request something urgently.

-INFLATION: a progressive increase in the general level of prices brought about by an expansion in demand or the money supply or by autonomous increases in costs.

-TAX: a compulsory financial contribution imposed by a government to raise revenue, levied on the income or property of persons or organizations, on the production costs or sales prices of goods and services.

-RAW MATERIAL: a substance in its natural state that will be used to make something in an industrial process.

-TELECOMMUTING: the use of home computers, telephones… to enable a person to work from home while maintaining contact with colleagues, customers, or a central office.

-EMPLOYER: a person who works.

-EMPLOYEE: a person who is hired to work for another.

-SELF EMPLOYED: not working for an employer but having your own business or finding work for yourself.

-ACTIVE POPULATION: The fraction of a population that is either employed or actively seeking employment.

-INACTIVE POPULATION: all persons who were neither employed nor unemployed during the short reference period used to measure current activity.

-DISABLED: lacking one or more physical powers, such as the ability to walk or to coordinate one's movements, as from the effects of a disease or accident, or through mental impairment.

-RETIRED: to give up or to cause (a person) to give up his work.

-FULL TIME CONTRACTS: it’s a legal agreement that is enforceable in a court of law or by binding arbitration in which an employee agrees to work on a fulltime basis for a specified period.

-PART TIME CONTRACTS: it’s a form of employment that carries fewer hours per week than a full time job.