Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
IntroToBus.Chap.2
Study Guide; Vocab, and other information.
| Term | Definition |
|---|---|
| Gross Domestic Product (GDP) | the total dollar value of all final goods and services produced in a country during one year |
| GDP Per Capita | output per person |
| Unemployment Rate | one economic statistic of concern |
| Productivity | the production output in relation to a unit of input, such as a worker |
| Personal Income | refers to salaries and wages as well as investment income and government payments to individuals |
| Retail Sales | the sales of durable and nondurable goods bought by consumers |
| Business Cycle | this movement of the economy from one condition to another and back again |
| Prosperity | a period in which most people who want to work are working businesses produce goods and services in record numbers, wages are good, and the rate of GDP growth increases |
| Recession | a period in which demand begins to decrease, businesses lower production, unemployment begins to rise, and GDP growth slows for two or more quarters of the calendar year |
| Depression | a phase marked by a prolonged period of high unemployment, weak consumer sales, and business failures |
| Recovery | the phase in which unemployment begins to decrease, demand for goods and services increases, and GDP begins to rise again |
| Inflation | an increase in the general level of prices |
| Price Index | a number that compares prices in one year with prices in some earlier base year |
| Deflation | means a decrease in the general level of prices |
| Capital Projects | involve spending by businesses for items such as land, buildings, equipment, and new products |
| Stock | represents ownership in a corporation |
| Bond | represents debt for an organization |
| Budget Surplus | occurs when a government spends less than it takes in |
| Budget Deficit | occurs when a government may spend more than it takes in |
| National Debt | the total amount owed by the federal government |
| Prime Rate | the rate banks make available to their best business customers, such as large corporations. |
| Discount Rate | the rate financial institutions are charged to borrow funds from Federal Reserve Banks. |
| T-bill Rate | the yield on short term 13-week U.S. government debt obligations. |
| Treasury Bond Rate | the yield on long term (20-year) U.S. government debt obligations |
| Mortgage Rate |
Created by:
cheyenneNbuker
Popular Business sets