13.

convenience = convencía = to persuade someone or make

someone certain
14. trade-off = Compensación = a kind of compromise that involves
giving up something in return for getting something else.
15. effects = efectos = a change that results when something is
done or happens
16. society = Sociedad = a group of people who live in a definable
community and share the same culture
17. microeconomics = Microeconomía = the branch of economics
that considers the behaviour of decision takers within the
economy, such as individuals, households and firms.
18. macroeconomics = macroeconomía = It is the part of the
economy that is responsible for analyzing and studying economic
functioning in a global and general manner, studying the variables
that occur in the total amount of goods and services, profits, degree
of employment, price level, among other aspects. important.
19. private businesses = empresas privadas = It is a for-profit
organization that is owned by individual investors.
20. manage = gestionar = It is dealing with the administration,
organization and operation of a company, economic activity or
organization.
21. household = hogar = It is used to designate a place where an
individual or group of individuals lives, creating a feeling of
security and calm in them.
22. budgets = presupuestos = A plan to show how much money a
person or organization will earn and how much they will need or
be able to spend
23. run = correr = move along, faster than walking, by taking quick
steps in which each foot is lifted before the next foot touches the
ground
24. agree = de acuerdo = to have the same opinion
25. behaviour = comportamiento = how a living being responds to
stimuli in its environment, whether it does so consciously or
unconsciously
5. Price System = Sistema de precios = The mechanism by which
the prices of goods and services in an economy are determined.
6. Policies = Políticas =The decisions and actions taken by
governments or institutions to influence the economy.
7. Spending Decisions = Desiciones de gasto = The choices made
by individuals, companies or governments on how to use their
limited resources.
8. ⁠ Companies = Comapañias = Entities that produce goods and
services in order to obtain profits.
9. Households = hogares = The economic units that consume goods
and services and provide labor and capital to companies.
10. Wages = Salarios = The financial compensation received for the
work done.
11. Availability = Disponibilidad = The extent to which resources
are available to meet human needs and desires.
12. Offer = Oferta = The amount of goods or services that
producers are willing to sell at different prices.
13. Scarcity = Escasez =The situation in which the available
resources are insufficient to satisfy all human needs and desires.
14. Term= Terminó = The word or concept used to refer to
something in particular.
15. Measured = Medido = The action of determining the quantity
or value of something using an established standard.
16. Opportunity Cost = Costó de oportunidad = The value of the
best alternative sacrificed when choosing one option over another.
17. Renounced Alternatives = Alternativas Renunciadas =The
options that are left aside when choosing a particular alternative.
18. Frontier of Production Possibilities = Frontera de Posibilidades
de Producción = The maximum limit of production that an
economy can achieve given the resources and technology available.
19. Goods = Bienes = Physical objects that have value and can be
exchanged.
20. Services = Servicios =Intangible activities carried out to satisfy
human needs and desires.
4. remains = Restos = any pieces, scraps, fragments, etc, that are
left unused or still extant, as after use, consumption, the passage of
time, etc
5. avoid = Evitar = keep away from or stop oneself from doing
(something).
6. forgo = Renunciar a = omit or decline to take (something
pleasant or valuable); go without.
7. tastes/preferences = gustos/preferencias = is the phrase
economists use to refer to everything we want in life.
8. constrained = restringido = appearing forced or overly
controlled.
9. afford = pagar = have enough money to pay for.
10. buyers = compradores = a person who purchases goods or
services for personal or business reasons.
11. downward = hacia abajo = toward a lower place, point, or level.
12. slope = pendiente = is the rise of a line over the run of a line, or
the change in the vertical direction (y) over the change in the
horizontal direction (x).
13. purchase = compra = to obtain by paying money or its
equivalent
14. willing = dispuesto = inclined or favorably disposed in mind
15. able = capaz = having sufficient power, skill, or resources to do
something.
16. schedule = Tabulación = a plan that gives a list of events or
tasks and the times at which each one should happen or be done.
17. declines = declinaciones = any period of downturn, ranging
from a company's falling stock price to a country's falling GDP
18. increases = aumentos = happens when more is purchased at
the same price and the same quantity is purchased at a higher price.
19. add up = sumar = to come to a total and especially the expected
total.
20. switch = interruptor = is the process of transferring
investments.
5. under-produced = Subproducido = the production of less than
enough to satisfy the demand or of less than the usual amount.
6. over-consumed = Sobreconsumido = a situation where a
consumer overuses their available goods and services to where
they can't, or don't want to, replenish or reuse them