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| An interest rate is the price a borrower pays for the use of money they do not own, for instance a small company might borrow from a bank to kick start their business, and the lender receives the use of funds later, by lending it to the borrower |
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| tax: charge against a citizen's person or property or activity for the support of government |
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| a personal tax levied on annual income |
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| a capital tax on property imposed by municipalities; based on the estimated value of the property |
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| a tax based on the cost of the item purchased and collected directly from the buyer |
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| acceptable as a deduction (especially as a tax deduction) |
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| a partial payment made at the time of purchase; the balance to be paid later |
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| the difference in value over a period of time of a country's imports and exports of merchandise; "a nation's balance of trade is favorable when |
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| commodities (goods or services) bought from a foreign country |
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| commodities (goods or services) sold to a foreign country |
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| an economic system based on private ownership of capital |
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| a form of socialism that abolishes private ownership |
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| a political theory advocating state ownership of industry |
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Definition
| the creation of value or wealth by producing goods and services |
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