This document defines key terms from microeconomics including recession, growth, economic activities, effectiveness, efficiency, market failure, microeconomics, depression, invisible hand, ceteris paribus, price, variable costs, fixed costs, demand, supply, economic models, shift in demand, and shift in supply. It also briefly describes terms like expansion, efficacy, macroeconomy, representative market rate, capital swallow, rent, and phenomena of the economy. The document provides Spanish translations for each term.