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Details Title: Marketing Definitions Description: Definitions for Vocabulary-Chapter 5: Basic marketing-A Marketing Strategey Planning Approach, McGraw Hill Publishing Co. Total Flash Cards: 9 Created: 09/19/2007 13:37:05	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term Gross Domestic Product Definition the total market value of all goods and services provided in a country's economy in a year by both residents and nonresidents of that country (Gross nationtal income is a part of this) Term Gross National Income Definition a measure that is similar to GDP but GNI does not include income earned by foreigners who own resources in that nation Term Birthrate Definition the number of babies born per 1,000 people- has fluctuated greatly in the last 50 years Term Metropolitan Statistical Area (MSA) Definition an integrated economic and social unit with a large population nucleus; 50,000 or more inhabitants Term real income Definition income that is adjusted to take out the effects of inflation on purchasing power Term Disposable income Definition the amount of income that is left after taxes Term discretionary income Definition what is left of disposable income after paying for necessities Term empty nesters Definition people whose children are grown and who are now able to spend theirm money in other ways; usually in the 50-64 age group Term senior citizens Definition people over 65; number is increasing rapidly because of modern medicine