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119 Cards in this Set
- Front
- Back
Supply |
The quantity of products that manufacturers or owners are willing to sell at different prices at a specific time is known as |
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Microeconomics |
The part of economic study that looks at the behavior of people and organizations in particular markets is called |
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Recession |
The country is in one of these when GDP has declined for two consecutive quarters. |
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Capitalism |
This economic system is one in which all or most of the factors of production and distribution are privately owned and operated for profit. |
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Demand |
is the quantity of products that people are willing to buy at different prices at a specified time |
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Unemployment Rate |
the number of civilians at least 16 years old who are unemployed and tried to to find a job within the prior four weeks |
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Free Market |
The market largely determines what goods and services get produced, who gets them, and how the economy grows. |
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Consumer Price Index |
Consists of monthly statistics that measure the pace of inflation or deflation |
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National Debt |
The sum of government deficits over time is called |
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Economics |
A course in this class will teach us how society chooses to employ resources to produce goods and services and to distribute them for consumption among various competing groups and individuals |
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Inflation |
Government economists keep a close watch on this, which is the general rise in the price level of goods and services over time. |
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G.D.P. |
This key economic indicator talks about the total value of goods and services produced in a country in a given year |
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Command Economics |
This economic system is one in which the government largely decides what goods and services will be produced, who will get them, and how the economy will grow. |
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Monetary Policy |
In developing this policy, the government is managing the money supply and interest rates. |
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Disinflation |
a situation in which price increases are slowing (the rate of inflation is slowing)
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Depression |
A severe recession is known as this, and is usually accompanied by disinflation. |
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Socialism |
This economic system is based on the premise that some, if not most basic businesses should be owned by the government so that profits can be evenly distributed among the people. |
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Institutional Investors |
These large investors are organizations such as pension funds, mutual funds, insurance companies, and banks that invest their own funds or the funds of others. |
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Over-the-counter Market |
An exchange that provides a means to trade stocks not listed on national exchanges. |
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Stock Certificate |
Evidence of stock ownership is called this, and it specifies the name of the company, the number of shares it represents, and the type of stock being issued. |
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Program Trading |
This type of trading means giving instructions to computers to automatically sell if the price of stock dips to a certain point to avoid potential losses. |
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Common Stock |
The most common form of stock ownership in a firm is called this, which confers voting rights and the right to share in the firm's profits through dividends, if offered by the firm's board of directors. |
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Sinking Fund |
This is a reserve account in which the issuer of a bond periodically retires some part of the bond principal prior to maturity so that enough capital will be accumulated by the maturity date to pay off the bond. |
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Stockbroker |
This is a registered representative who works as a market intermediary, buying and selling securities for clients. |
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Stock Exchange |
An organization that is known as this is one who's members can buy and sell securities for companies and investors. |
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Maturity Date |
The exact date the issuer of a bond must pay the principal to the bondholder is known as this. |
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Preferred Stock |
This stock gives its owner's preference in the payment of dividends and an earlier claim on assets than common stockholders if the business is forced out of business and it's assets sold. |
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Investment Bankers |
These specialists assist in the issue and sale of new securities. |
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Interest |
The payment the issuer of a bond makes to the bondholder to pay for the use of borrowed money is called this. |
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Debenture Bond |
This type of bond is unsecured (i.e. not backed by any collateral) |
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Buying Stock on Margin |
This process is the purchase of stocks by borrowing some of the purchase cost from the brokerage firm. |
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Dividends |
The part of a firm's profits that may be distributed to stockholders as either cash payments or additional shares of stock are called this |
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Stock Split |
This is an action by a company that gives stockholders two or more shares of stock for each one they own. |
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Stocks |
Shares of ownership in a company are called this |
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Mutual Fund |
This is an organization that buys stocks and bonds and then sells shares in those securities to the public. |
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Bond |
A corporate certificate known as this indicates that a person has lent money to a firm. |
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Dow Jones |
This is the average cost of 30 selected industrial stocks and is used to give an indication of the direction of the stock market over time. |
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Securities & Exchange Commission (SEC) |
This is a federal agency that has the responsibility for regulating the various exchanges. |
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Prospectus |
This is a condensed version of economic and financial information and it must be filed with the SEC before issuing stock; it must be sent to potential purchasers of the firm's stock. |
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NASDAQ |
This is a nationwide electronic system that links dealers across the nation so that they can buy and sell securities electronically. |
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Capital Gains |
These are the positive differences between the purchase price of a stock and it's sale price. |
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Initial Public Offering |
This is the first public offering of a corporation's stock. |
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Junk Bonds |
These are high-risk, high-interest bonds. |
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Exchange-Traded-Funds |
These are collections of stocks that are traded on exchanges and are traded more like individual stocks than like mutual funds. |
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Factors of Production |
Land, labor, capital, entrepreneurship and knowledge are known as these |
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E-Commerce |
Otherwise known as this, we are referring to the buying and selling of products and services over the internet. |
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Quality of Life |
This refers to the general well-being of a society in terms of freedom, a clean natural environment, education, health care, safety, free time, and rewards that add to the satisfaction and joy that other goods and services provide. |
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Entrepreneur |
This is the person who risks time and money to start and manage a business. |
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Services |
Products that are intangible, such as education, health care, insurance, recreation and travel & tourism are known as these |
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Business |
This is any activity which seeks provide goods and services to others while operating at a profit. |
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Loss |
This has occurred when a business's expenses are more than its revenues. |
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Risk |
Entrepreneurs take this when they take the chance that they will lose time and money on a business that may not be prove to be profitable. |
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Standard of Living |
This is the amount of goods and services people can buy with the money they have. |
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Nonprofit |
This is an organization whose goals do not include making a personal profit for its owners or organizers. |
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Database |
An electronic storage file where information is kept |
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Demography |
When we study this, we are looking at a statistical study of the human population with regard to its size, density, and other characteristics such as age, race, gender and income. |
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Empowerment |
This means giving Frontline workers the responsibility, authority and freedom to respond quickly to customer requests |
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Goods |
Computers, food, clothing, cars, and appliances are tangible products known as these. |
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Profit |
Is the amount of money a business earns above and beyond what it spends for salaries and other expenses. |
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Stakeholders |
These people stand to gain or lose by a business's policies and activities, and whose concerns the business needs to address. |
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Revenue |
The total amount of money a business takes in during a given period by selling goods and services |
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Technology |
This is considered to be everything that makes business processes more effective, efficient and productive; such as phones, copiers, computers, medical imaging devices, personal digital assistants and various software programs. |
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Business Environment |
These surrounding factors either help or hinder the development of businesses |
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Productivity |
The amount of output you generate given the amount of input such as hours worked is called this |
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Outsourcing |
Contracting with other companies to do some or all of the functions of a firm such as accounting or production is known as this. |
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Identity Theft |
This is when someone obtains private information about a person, such as social security number and credit card numbers, and using that info for illegal purposes. |
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Greening |
This refers to the trend of saving energy and productive products that cause less harm to the environment. |
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Climate Change |
This is the movement of the temperature of the planet up or down over time. |
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Fiscal Policy |
When the federal government makes an effort to keep the economy stable, it may use this, by increasing or decreasing taxes or government spending. |
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Mixed economy |
These are economic systems where some allocation of resources is made by the market and some by the government. |
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Deflation |
The economy is experiencing this when prices are actually declining. |
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Monopoly |
This is a market in which only one seller controls the total supply of a product or service and sets the price. |
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Perfect Competition |
This market situation is where there are many sellers in a market and no seller is large enough to dictate the price of the product |
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Invisible Hand |
Adam Smith coined this term to describe the process that turns self-directed gain into social and economic benefits for all |
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Oligopoly |
This form of competition is where the market is dominated by a few sellers |
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Macroeconomics |
This part of economic study looks at the operation of a nation's economy as a whole. |
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Resource Development |
This study focuses on how to increase resources and to create the conditions that will make better use of those resources. |
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Market Price |
This is the price determined by supply and demand. |
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Monopolistic Competition |
This is the market situation in which there are a large number of sellers that produce similar products, but the products are perceived by buyers as different. |
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Communism |
This economic and political system is one in which the state (the government) makes all economic decisions and owns almost all the major factors of production. |
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Producer Price Index |
This index measures prices at the wholesale level. |
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Business Cycles |
These describe the periodic rises and falls that occur in all economies over time. |
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Brain Drain |
The loss of the best and brightest people to other countries |
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Stagflation |
This situation is when the economy is slowing, but prices are still going up. |
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Keynesian Economic Theory |
This theory is where a government policy of cutting taxes and increasing spending could stimulate the economy in a recession. |
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Commercial Finance Companies |
These are organizations that make short-term loans to borrowers who offer tangible assets as collateral. |
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Financial Control |
This process is where a firm periodically compares its actual revenues, costs and expenses. |
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Long-term financing |
Funds needed for more than one year (usually 2 to 10 years) are considered these |
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Revolving Credit Agreement |
This line of credit is guaranteed but usually comes with a fee. |
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Term-loan Agreement |
This is a promissory note that requires the borrower to repay the loan in specified installments. |
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Unsecured Loan |
This is a loan that is not backed by any specific assets. |
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Financial Managers |
These managers examine financial data prepared by accountants and recommend strategies for improving the financial performances of a firm. |
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Equity Financing |
These funds are raised from operations within the firm or through the sale of ownership in the firm. |
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Credit Unions |
These are nonprofit, member-owned financial cooperatives that offer the full variety of banking services to their members. |
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M-3 |
M-2, plus big money deposits like institutional money market funds make up this money supply |
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Reserve Requirement |
This is a percentage of a commercial bank's checking and savings accounts that must be physically kept in the bank. |
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Time Deposit |
This is the technical name for a savings account in which the bank can require prior notice before the owner withdraws money |
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Banker's Acceptance |
This is a promise that the bank will pay some specified amount at a particular time. |
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Money |
This is anything that people generally accept as payment for goods and services. |
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Discount Rate |
This is the interest rate the Fed charges for loans to member banks |
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Nonbanks |
These financial organizations accept no deposits, but offer many of the services provided by regular banks including pension funds, insurance companies, commercial finance companies, consumer finance companies and brokerage houses. |
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Certificate of Deposit |
This is a time deposit (savings) account which earns interest to be delivered at the end of the certificate's maturity date |
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Electronic Funds Transfer |
This is a computerized system that ELECTRONICally performs financial transactions such as making purchases, paying bills, and receiving paychecks |
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Savings Association Insurance Fund (SAIF) |
This is the part of the FDIC that insures holders of account in savings and loan associations |
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Debit Card |
This is an electronic funds transfer tool that serves the same function as checks, in that it withdraws funds from a checking account. |
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Bartering |
This activity is the direct trading of goods and services for other goods and services. |
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Savings & Loan Association |
This is a financial institution that accepts both SAVINGS and checking deposits and provides home mortgage LOANs. |
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Money Supply |
The amount of money the Federal Reserve Bank makes available for people to buy goods and services |
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Letter of Credit |
This is a promise by a bank to pay the seller a given amount if certain conditions are met. |
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Pension Funds |
These are amounts of money put aside by corporations in the form of checking and savings accounts and then uses some of these funds to make loans. |
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Commercial Bank |
This is a profit-seeking organization that receives deposits from individuals and corporations in the form of checking and savings accounts and then uses some of these funds to make loans. |
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Federal Deposit Insurance Corporation (FDIC) |
This is an independent agency of the U.S. government that insures bank deposits. |
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Open-Market Operations |
This is the buying and selling of U.S. Government bonds by the Fed, and has the goal of regulating the money supply. |
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M-2 |
This includes everything in M-1 plus money that may take a little more time to obtain, such as savings accounts, money market accounts, mutual funds, and certificates of deposit. |
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Demand Deposit |
This is the technical name for a checking account, from which money can be withdrawn anytime on DEMAND by the DEPOSITor |
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International Monetary Fund (IMF) |
This assists in the smooth flow of money among nations. |
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World Bank |
Also known as the International BANK for Reconstruction and Development, this is primarily responsible for financing economic development. |
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M-1 |
Money that can be accessed quickly and easily, such as currency, checks, traveler's checks, is called this. |
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Smart Card |
This is an electronic funds transfer tool that is a combination credit card, debit card, phone card, driver's license and more. |