Economics Vocab 3

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ownership share of a corporation


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


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

Full Employment

unemployment rate equals the natural rate of unemployment


money paid to stockholders for buisness profits

Sole Proprietorship

form of business organization with a single owner


severe economic downturn, production stops



Board of Directors

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


form of buisness organization by two people


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


two successful quarters of economic productivity


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


period of economic decline marked by falling of real GDP


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

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