Glosary 3 - Activity 4

1. Nacional output/producción nacional:National production is the Gross National Product (GNP), which is defined as the monetary value of all final goods and services produced in the country in a given period.
2. Economic growth/crecimiento económico:Economic growth is the increase in income or value of final goods and services produced by an economy in a given period.
3. Allocation/asignación:Thing that is assigned; especially amount of money that a person is allocated for performing a job or performing a function.
4. Incide/ingresos:Amount of money earned or collected.
5. Price system/sistema de precios:It is any economic system that makes its distribution of goods and services by assigning prices to said goods and services and using any form of money or debit checks.
6. Polices/politicas:It is the orientation or guideline that must be disclosed, understood and followed by all members of the organization, it includes the rules and responsibilities of each area of ​​the organization. Policies must be dictated from the highest hierarchical level of the company.
7. Spending choices/opciones de gasto: Option to choose between the various expenses of an entity.
8. Firms/empresas:Entity in which capital and labor are involved as factors of production of industrial or commercial activities or for the provision of services.
9. Households/hogares:Regular domicile of a person and in which he develops his private or family life.
10. Wages/salario:Money received by a person from the company or entity for which he works as a payment, usually periodically.
11. Availability/disponibilidad:Availability is the possibility of a thing or person being present when needed. Availability refers to this functional presence that makes it possible to give answers, solve problems, or merely provide limited help.
12. Supply/suministro:When talking about supply, reference is made to the act and consequence of supplying (that is, providing someone with something that requires). The term mentions both the provisioned.
13. Scarcity/escasez:The shortage is the lack of basic resources such as water, food, energy, housing, etc. That are considered fundamental to satisfy survival or non-basic resources that meet different needs in human societies in various aspects.
14. Term/termino:End, limit or last point to where a thing arrives or extends in time or space.
15. Measured/mesurado:Moderate, circumspect, temperate, which is subject to measure. That is not extremist.
16. Opportunity cost/ Costo de oportunidad: A benefit, profit, or value of something that must be given up to acquire or achieve something else.
17. Forgone aternatives/ Alternativas olvidadas: When referring to opportunity costs, investors often see it as the benefit you would have received by taking an alternative financial action.
18. Production possibilities frontier/ Frontera de posibilidades de producción: (PPF) is a curve illustrating the different possible amounts that two separate goods may be produced when there is a fixed availability of a certain resource that both items require for their manufacture.
19. Goods/ Bienes: A commodity, or a physical, tangible item that satisfies some human want or need, or something that people find useful or desirable and make an effort to acquire it.
20. Services/ Servicios:  a system supplying a public need such as transport, communications, or utilities such as electricity and water.
21. Attainable/ Alcanzable: possible to achieve, reach, or get
22. Plotted/ Tramado: a secret plan or scheme to accomplish some purpose, especially a hostile, unlawful, or evil purpose: a plot to overthrow the government.
23. Axis/ Eje: a real or imaginary straight line going through the centre of a object that is spinning, or a line that divides a symmetrical shape into two equal halves.
24. Amount/ Cantidad: A collection or mass, especially of something that cannot be counted.
25. Boundary/ Límite: A real or imagined line that marks the edge or limit of something.
26. Finite Resource/ Recurso Finito: Resource that is concentrated or formed at a rate very much slower than its rate of consumption and so, for all practical purposes.
27. Fails/ Falla: Be unsuccessful in achieving one's goal.
28. Giving up/ Renunciando:  To stop doing something that you do regularly.
29. Accounted/ Contabilizado: Consider or regard in a specified way.
30. Farming ability ratio/ Relación de capacidad de cultivo: This ratio measures the ability of the farm business to meet its present and short term obligations.
31. Growth/ Crecimiento: the process of increasing in physical size.