- Economy: The structure of economic activity in a locality, a region, a country, a group of countries, or the world. - Gross domestic product (GDP): The market value of all final goods and services produces in the nation during a given period, usually a year. - Consumption: Household purchases of fianal goods and services. - Investment: The purchase of new plants, new equipment, new buildings, nre residences, and net additions, to inventories. - Aggregate expenditure: Total spending on all final goods and services produced in the economy during the year. - Aggregate income: The sum of all the income earned by resource suppliers in the economy during a given year.