Society, General Knowledge for Vocational Schools (ABU), Vocabulary

trade agreement between two countries or groups of counties to liberalise trade

a group of heads of state and government of the 20 most important industrialised and emerging economies to discuss issues relating to the international financial system

worldwide network across diverse areas, e.g. economy, ecology, etc.

to bring in (merchandise, commodities, workers, etc.) from a foreign country for use, sale, processing, re-export, or services

a country with social, economic and political development at a high standard

price increase; a persistent, substantial rise in the general level of prices related to an increase in the volume of money and resulting in the loss of value of currency

is a humanitarian institution which strives to uphold human rights and prevent and alleviate suffering

a group of people or companies who all agree to sell something at the same price so that they can all make profits without competing with one another

the up and down movement of the economic cycle

general pattern of recurring periodic fluctuations which runs the gamut of four economic phases, ranging from expansion, peak, recession to recovery

enabling accessibility of a market area to other businesses, products

a type of market failure; a company that has complete control of the product or service it provides because it is the only company that provides it; due to lack of competition, this provider can largely determine the prices and quantities

Switzerland's foreign and security policy principle; non-interference, independence, self-sufficiency

science that studies the economical system of a country (consumption of goods and money)

an economic system in which the economic processes are centrally planned and controlled by public authorities

developing country in the middle of a transition into a industrialised country

market-oriented economic system in which the state can take actions in order to redistribute income and assets

advantage that arises due to location

an international organization with 193 member states that encourages countries to work together to ensure world peace and comply with international law

morally fair ways of equitably distributing goods

international organisation that supports and promotes free global trade/ world trade

annual forum for business leaders, state leaders, scientist and cultural representatives in order to promote worldwide networking in the areas of economics, politics and science

levy on goods imposed at the border when importing or exporting goods

a person, business, firm, etc., that employs workers

a person who is bound by a contract to work in exchange for financial compensation

a short account of one's career and qualifications, typically prepared by an applicant for a position

condition when someone wants to but cannot find employment

a document issued by an employer, providing information on performance and behaviour of an employee

termination of an insurance's service obligation to an insured person (e.g. unemployment insurance)

a formal/written request for employment or vocational training

physical or mental collapse due to professional or family related overwork and stress

study of the development and structure of populations

Swiss pension system that is based on three pillars and covers old age, death and invalidity

contract in which an employee commits to provide the employer with work or work force in exchange for monetary wages