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Stock

ownership share of a corporation

Entrepreneur

individual who starts a new buisness, introduces a new product and improves a management technique

Peak

part of business cycle where there is the strongest point of economic growth

Full Employment

unemployment rate equals the natural rate of unemployment

Dividend

money paid to stockholders for buisness profits

Sole Proprietorship

form of business organization with a single owner

Trough

severe economic downturn, production stops

Unemployment

joblessness

Board of Directors

people elected by the shareholders of a corporation to act on their behalf

Partnership

form of buisness organization by two people

Expansion

part of the business cycle where the economy starts to grow again

Recession

two successful quarters of economic productivity

Corporation

type of buisness organization owned by many people but treated by law as though it was one person

Contraction

period of economic decline marked by falling of real GDP

Depression

a long-term economic state characterized by unemployment and low prices and low levels of trade and investments

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