marketing chap 3( ones i couldnt get)
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Created by:
TajiahShanice on November 2, 2011
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9 terms
Terms | Definitions |
|---|---|
 gross national product | the total dollar value of goods and services produced by a nation |
| communism | a social,political, and economic philosophy in which the governement controls the factors of production |
| entrepreneurship | refers to teh skills of people who are willing to invest their time and money to run a business |
| infrastructure | physical development of a country |
| command economy | a system in which a country's government makes economic decisions and decides what,when,and how much will be produced and distributed |
| business cycle | recurring changes in economic activity |
| gross domestic product | the output of goods and services produced by labor and property by labor and property located within a country |
| producer price index | measures wholesale price levels in the economy |
| expansion | a time when the economy is florishing, sometimes referred to as a period of prosperity |
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