Deflation is not normally harmful to an economy, unless it occurs as a result of previous over inflation.

The total amount of credit available to a business or individual to borrow from a banking institution is known as bank credit.

A bank statement is a record that is typically sent to the account holder once a month and summarizes all transactions in an account over a specified time period.

A complex system of interconnected production, consumption, and exchange activities that ultimately determines how resources are allocated among all participants is referred to as an economy.

The term "new economy" refers to new, high-growth industries that are on the cutting edge of technology and are thought to be the driving force behind economic growth and productivity.

Money is a form of exchange that can be used to facilitate the purchase and sale of goods and services.

Economic inequality refers to disparities in income and wealth among individuals. And those distinctions can be significant. When Forbes released its most recent rankings in 2021, the world had a record 2,755 billionaires.

The knowledge economy is a consumer and production system based on intellectual capital. It specifically refers to the ability to profit from scientific discoveries and applied research.