Malina

created by humans

man-made

extreme scarcity of food

famine

said to be wrong

disappoint

period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP

recession

system where the means of producing and distributing goods is collectively owned by a centralized government

socialism

situation when inflation rate is high, economic growth rate slows and unemployment remains steadily high

stagflation

deregulation of economy and cutting taxes, especially government taxes

trickle-down economics

deregulation of economy and cutting taxes, especially government taxes

fiscal policy

situation where there is only one company hiring and workers are relatively immobile

monopsony

a state in which opposing forces or influences are balanced

equilibrium

situations when some employers might voluntarily offer higher wages to increase worker productivity

efficiency wages

a series of workers and machines in a factory by which a succession of identical items is progressively put together

assembly line

encourage development of or increased activity in (a state or process)

incentive/stimulate

denoting or relating to a value or quantity lying at the midpoint of a frequency distribution of observed values or quantities, such there is an equal probability of falling above or below it

median

a society or association formed by people with a common interest or purpose

union