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Chapter 2
n/a
20
Business
Not Applicable
10/04/2011

Additional Business Flashcards

 


 

Cards

Term
Deflation
Definition
A decrease in the general price level
Term
Business Cycle
Definition
The movement of an economy from one condition to another and back again
Term
Capital Project
Definition
Spending by businesses for items such as land, buildings, and equipment
Term
Gross Domestic Product (GDP)
Definition
The total value of all final goods and services produced in a country in one year
Term
Budget Surplus
Definition
Government spends less that it takes in
Term
Depression
Definition
A phase marked by a long period of high unemployment, weak consumer sales, and business failures
Term
Bond
Definition
Represents debt for an oragization
Term
Personal Income
Definition
Salaries and wages as well as investment income and government payments to individuals
Term
GDP Per Capita
Definition
TheGDP divided by the total population of a country
Term
Productivity
Definition
Production output in relation to a unit of input such as a worker
Term
Recovery
Definition
The phase in which unemployment decreases, demand for goods and services increases, and GDP begins to rise
Term
Inflation
Definition
An increase in the general price level
Term
Stock
Definition
Represents ownership in a corporation
Term
Budget Deficit
Definition
Government spends more than it takes in
Term
Unemployment Rate
Definition
The portion of people in the labor force who are not working
Term
Retail Sales
Definition
The sales of durable and nondurable goods bought by consumers
Term
Prosperity
Definition
A period in which unemployment is low, businesses produce many goods and services, and wages are good
Term
Price Index
Definition
A number that compares prices in one year with some earlier base year
Term
Recession
Definition
A period in which demand, production, and GDP growth decrease and unemployment begin to rise
Term
National Debt
Definition
The total amount owed by the federal government
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