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Economics & Business in our Environment
Terms in this set (50)
Securities & Exchange Commission
The federal agency responsible for regulating the various stock exchanges; created in 1934 through the securities and exchange act.
Balance of Trade
The total value of a nation's exports compared to its imports measured over a particular period.
The use of government regulations to limit the import of goods and services.
A complete ban on the import or export of a certain product or the stopping of all trade with a particular country.
Balance of Payments
The difference between money coming into a country (from exports) and money leaving the country (from imports) plus other money flows.
The management of the money supply and interest rates by the federal reserve bank (the fed).
Investors who expect stock prices to decline.
Investors who believe stock prices are going to rise.
Part of a firms profits that the firm may distribute to stockholders as either cash or additional shares.
Taxes on imports making imported goods more expensive.
The belief in the inherent superiority of one's own ethnic group or culture.
The face value of a bond.
A person who risks time and money to start and manage a business.
The sum of government deficits over time.
The general rise in the prices of goods and services over time.
Prices are declining because too few dollars are chasing too many goods.
Dow Jones Industrial Average
The average cost of 30 selected industrial stocks.
Shares of ownership in a company.
The buying and selling of goods on the internet.
Some of a countries best and brightest works (doctors, lawyers, etc) move to capitalistic countries.
A severe recession, usually accompanied by deflation.
A degree of competition in which only one seller controls the total supply of a product or service and sets the price.
Two or more consecutive quarters of decline in the Gross Domestic Product.
An unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends.
Blue Chip Stocks
Stock of a large well-established and financially sound company that has operated for many years.
The statistical study of the population in terms of size, density, and characteristics like age, race, gender, and income.
Quality of Life
The general well being of a society in terms of its political freedom, natural environment, education, health care, safety, amount of leisure, and rewards that add up to personal satisfaction.
Standard of Living
The amount of goods and services people can buy with the money they have.
Giving frontline workers the responsibility, authority, and freedom to respond quickly to customers requests.
The study of how society employs resources to produce goods and services for consumption among various groups and individuals.
The behavior of people and organizations in markets for particular products or services. (Individual markets).
When self-directed gain leads to social and economic benefits for the whole community.
The quantities of products consumers are willing to buy at different prices.
Market Price/Equilibrium Point
Determined by supply and demand; this is the negotiated price.
The quantities of products businesses are willing to sell at different prices.
An economic system based on the premise that some basic businesses, like utilities should be owned by the government in order to more evenly distribute profits among the people.
Gross Domestic Product
Total value of final goods and services produced in a country in a given year. As long as a company is within a country's boarder, their numbers go into the countries ____________. (Even if they are foreign owned).
Some allocation of resources is made by the market and some by the government.
The federal government's efforts to keep the economy stable by increasing or decreasing taxes or government spending.
An organization whose members can buy and sell (exchange) securities on behalf of companies and individual investors.
Initial Public Offering
The first offering of a corporation's stock.
The payment the bond issuer makes to the bond holders to compensate them for the use of their money.
Buying several different types of investments to spread the risk of investing.
An organization that buys stocks and bonds and then sells shares in those securities to the public. The fund pool investors money and buys stocks according to the fund's purpose.
Selling products to another country.
Buying products from another country.
A country should sell the products it produces most efficiently and buy from other countries the products it cannot produce as efficiently.
A country has a monopoly on producing a specific product or is able to produce it more efficiently than all other countries.
Selling a product in a foreign country at lower prices that those charged in the producing country (illegal).
When a firm (licensor) provides the right to manufacture its product or use its trademark to a foreign company (licensee) for a fee royalty.
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