(Answered) Terminology of the economydefine in your own words each of

Economics

Terminology of the economy

Define in your own words each of these terms.

NOTE: It is important that you follow this instruction to the letter. The purpose of the task is to know if you can define each concept by a clear and precise explanation. Imagine that you are going to explain each term to someone who knows nothing about economics; With this in mind, the explanation should be as clear and simple as possible.

Definitions taken literally from other sources will not be accepted and you will not get punctuation.

Economy
Microeconomics
Macroeconomics
Market
Offer
Demand
Price adjustment
Balance of the market
Economic growth
Human capital
Property rights
Opportunity cost
Production possibilities frontier
Goods and services
Pending

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