SOCIAL SCIENCE 6

ECONOMIC ACTIVITY: the different processes involved in the production and consumption of goods and services.

ECONOMIC AGENT: person, group or institution involved in the economy.

EMPLOYEE: person who works for other person to earn money.

EMPLOYER: person who hires other person to works for their.

MARKETING: the act of researching, promoting and advertising a product or service in order to sell it.

PART-TIME CONTRACT: contract in which employees must work during a fewer number of hours than the established on the agreement.

PRODUCTION: activity that provides goods and services for consumption.

PROFIT: the monetary gain of a business after all expenses have been met.

RAW MATERIAL: unprocessed substances.

RETIRED: person that does not work because having previously worked for years.

SELF-EMPLOYED: person who works for their own company.

SERVICES: economic activities that are intangible.

ACTIVE POPULATION: people employed, unemployed or looking for work.

CONSUMPTION: the use of a production or service to satisfy needs or desires.

DEMAND: the desire to own something in the market and willingness to pay for it.

DISABLED: physically handicapped person.

DISTRIBUTION: the marketing, delivery and sale of goods and services.

FULL-TIME CONTRACT: contract in which employees must work during all hours establish on the agreement.

GOODS: tangible economic products, such as food, that are usually consumed after production.

INACTIVE POPULATION: people who are not able to work because being disabled, retired or student.

INFLATION: 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.