economics
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20 terms
Terms | Definitions |
|---|---|
 economics | a social science |
| basic economic decisions | people in society making the what, how, and who decisions |
| entreprenuer | someone who takes buisness risks hoping to earn a profit |
| goods | items that you can touch and see |
| oppurtunity cost | the highest value alternative you give up when making a decision |
| scarcity | the fact that not all of peoples wants will be satisfied |
| services | something done for someone and is not a specific object it is an act |
| market | an arrangemnet allowing people to make exchanges with each other |
| capital recources | machinery and tools needed to run a buisness |
| free enerprise | another name for market economy which is an economy relieng on voluntary trade as means for profit |
| income satement | summarizes income and expenses for a buisness over a certain period of time |
| financial markets | markets that direct peoples savings into buisnesses investments |
| IPO market | the primary market where companies sell stick to raise money |
| trade credit | supllier allowing buisnesses to charge purchases |
| retained earnings | profits that buisnesses save and invest in their operations |
| stock market | where corporations issue shares of stock that peole can purchase |
| common stock | a share of ownership in a company, usually with voting rights |
| dividends | profits of a coporation that is distributed to its owners |
| bond | a long term IOU issued by a buisness |
| balance sheet | summarizes waht a buiness owns, and what it owes. |
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