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Definition
| A collective term for both the funds used to finance a company's operations and its physical, man-made assets such as factories and computers |
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| Economic system based on economic freedom, private ownership, and competition |
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| Economic system in which the government owns and operates all productive resources and determines all significant economic choices. |
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| Consumer Price Index (CPI) |
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Definition
| Monthy statistic that measures changes in the prices of about 400 goods and services that consumers buy |
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Economic Indicators
(How are they used?) |
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Definition
Statistics that measure significant variables in the economy
-Used for watching the performance of the economy |
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Definition
| The study of how society uses scarce resources to produce and distribute goods and services |
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| The study of how consumers, businesses, and industries collectively determine the quantity of goods and services demanded and supplied at different prices |
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Definition
| The study of how society uses resources to produce and distribute goods and services |
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Definition
| The study of how consumers, businesses, and industries collectively determine the quantity of goods and services demanded and supplied at different prices |
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Definition
| The study of "big picture" issues in an economy including competitive behavior among firms, the effect of government policies, and overall resource allocation issues |
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| Use of government revenue collection and spending to influence the business cycle |
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Definition
| Economic system in which decisions about what to produce and in what quantities are decided by the market's buyers and sellers |
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| gross domestic product (GDP) |
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Definition
| Value of all the final goods and services produced by businesses located within a nations borders; excludes receipts from overseas operations of domestic companies |
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| gross national product (GNP) |
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Definition
| Value of all the final goods and services produced by domestic businesses that includes receipts from overseas operations and excludes receipts from foreign owned businesses within a nation's borders |
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Definition
| Period during which national income, employment, and production all fall |
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| Individuals or groups to whom business has a responsibility |
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Definition
| Economic system characterized by public ownership and operation of key industries combined with private ownership and operation of less vital industries |
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Definition
| Activities undertaken by businesses to recruit and promote women and minorities, based on an analysis of the workforce and the available labor pool |
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Definition
| Movement that pressures businesses to consider consumer needs and interests |
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| Corporate social responsiblity |
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Definition
| The concern of businesses for the welfare of society as a whole |
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Definition
| Situation in which both sides of an issue can be supported with valid agruments |
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| The resolution of ethical questions and other dilemmas in a manner that is consistent with generally accepted standards of right and wrong |
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| The disclosure of information by a company insider that exposes illegal or unethical behavior on the part of the organization |
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Definition
| Sum of all payments one nation receives from other nations minus the sum of all payments it makes to other nations, over some specified period of time |
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| Comparitive advantage theory |
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Definition
| Theory that states that a country should produce and sell to other countries those items it produces most efficiently |
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Definition
| Savings from buying parts and materials, manufacturing, or marketing in large quantities |
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| Judging all other groups according to your own group's standards, behaviors, and customs |
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| Rate at which the money of ones counrty is trades for the money of another |
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| Government policies aimed at shielding a country's industries from foreign competition |
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Definition
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| Unfavorable trade balance created when a counry imports more than it exports |
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| Organizations of nations that remove barriers to trade among their memebers and that establish uniform barriers to trade with nonmember nations |
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| Chief Information Officer (CIO) |
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Definition
| A high-level executive responsible for understanding the company's information needs and creating systems and procedures to deliver that information to the right people at the right time |
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Definition
| A method of extracting previously unknown relationships among individual data points in a database |
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Definition
| Short for 'electronic commerce', which refers to marketing and selling products over the internet |
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Definition
| Websites that are similar to intranets but also allow access by trusted outside business partners |
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| A wide range of creative outputs with commercial value, such as design ideas, manufacturing processes, brands, and chemical formulas |
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| shorts for 'malicious software'; an unbrella term for illicit software with destructive, invasive, or criminal intent |
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Definition
| A wireless alternative for LANs; short for 'wireless fidelity' |
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Definition
| Online tools that format search requests for the specific requirements of multiple search engines |
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| Group of people, elected by the shareholders, who have the ultimate authority in guiding the affairs of a corporation |
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Definition
| Shares whose owners have voting rights and have the last claim on distributed profits and assets |
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