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Economics
| Question | Answer |
|---|---|
| Requiring strictobedience to an authority | Authoritarian |
| Barrier to entry | any factor that makes it difficult for anew firm to enter a market |
| Barter | the direct exchange of one set of goods are sold illegally |
| Blue collar worker | someone who works in an industrial job and who receives wages |
| Bond | a formal contract to repay borrowed money with interst at fixed cost |
| Capital gain | the difference between a higher selling price and a lower purchase price |
| Ceteris parivus | latin phrase meaning "all other things being constant" |
| Check clearing | process by whichbanks record whose account gives up money and whose account receives money when a customer writes a check |
| collective | large farm leased fromthe stateto groups of peasant farmers |
| commodity | product that is the same no matter who produces it |
| communism | a poltical system charterized by a centurally plannedeconomy |
| complements | 2 goods that are bought and used together |
| Conglomerate | business combination merging more than 3 businesses that make unrelated products |
| Consumer sovereignty | the pwer of consumers to decide what gets produced |
| Continuum | a range with no clear divisions |
| Corprate bond | corporatin that issues to raise money in order to expand its business |
| Corporation | a legal entity owned by indiviual stockholders |
| cost | alternative that is given up as the result of a decision |
| Coupon rate | the interest rate that a bond issuer will pay to a bondholder |
| Creditor | person or institution to whom money is owned |
| Currency | coins and paper bills used as money |
| Demand | desire to own something and the ability to pay for it |
| Demand curve | graphic representation of a demand schedule |
| Demand schedule | table that lists the quantity of a good person will buy at each different price |
| Discount rate | the Federal Reserve charges for loans to commerical banks |
| Divdend | the portion of a corporate profits paid out to stockholders |
| DOW | index that shows how certain stocks have traded |
| Economic systems | used by a society to produce and disreibute goods and service services |
| Economics | study of how people seek to satisfy their needs and wants by making choices |
| Efficiency | using resources in such a way as to maximize the production of goods and services |
| Elastic | describes demand that is very sensitive to change in price |
| Elasticity | if demand measure of how consumer react to a change in price |
| Excess demand | when quantity demanded is more than quantity supplied |
| Excess supply | when quantity supplied is more than quantity demanded |
| Excise tax | the production or sale of a good |
| FDIC | gov't agency that insures customer deposits if a bank fails |
| Federal fund rate | interst rate banks charge each other for loans |
| Public interst | the concerns of the public as a whole |
| Rationing | sytem if allocating scarce goods and services using critereia other than price |
| Return | money an investor receives above and beyind the sum of money initially invetsed |
| Royalty | share of earnings given as payment |
| Share | portion of stock |
| Principal | the amount of money borrowed |
| Portfolio | collection of financial assets |
| Net worth | total assets minus total liabilites |
| NASDAQ | Americian market for OTC securities |
| Technology | the process used to produce a good or service |
| total revenue | the total amount of money a firm recevies by selling goods or services |
| Supply | the amount of goods available |
| Supply shock | a sudden shrotage of a good |
Created by:
fperkins2011
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