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| Describes commerce transactions Between businesses, such as between a manufacturer and a wholesaler, or between a wholesaler and a retailer |
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| Exchange goods or services. |
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| The exchange of merchandise for goods or services with no $ involved. |
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| Period in a business's sales where it is increasing very rapidly. When business is booming. |
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| The loss of the best and brightest people. |
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| An organization or enterprising entity engaged in commercial, industrial or professional activities. |
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| Sale of goods or services from a business to a consumer. |
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| CPI (Consumer Price Index) (2) |
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Definition
| Measures changes in the price of the market. |
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| The lowest price possible. |
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| Exists when the government commands what goods and services will be produced, who will get them, and how the economy will grow. |
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| Is a regional group of countries that have a common external tariff, no internal tariffs, and the coordination of laws to facilitate exchange among member countries. (European Union) |
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| a group of countries imposing few or no duties on trade with one another and a common tariff on trade with other countries. |
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| An economic system and political system in which the state (government) makes almost all economic decisions and owns almost all of the major factors of production. |
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| Comparative Advantage Theory (3) |
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Definition
| States that a country should sell to other countries those products that it produces most effectively and efficiently, and buy from other countries those products it cannot produce as effectively or efficiently. |
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| Is a complex form of bartering in which several countries may be involved, each trading goods for goods or services for services. |
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| Refers to the set of values, beliefs, rules, and institutions held by a specific group of people. |
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| An equity security whose price is affected by ups and downs in the overall economy. |
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| Electronic storage files where info is kept. |
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| The quantity of products that people are willing to buy at different prices at a specific time. |
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| Is lowering the value of a nation’s currency relative to other currencies. |
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| Is the practice of selling products in a foreign country at lower prices than those charged in the producing country. |
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| Buying and selling goods over the internet. |
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| Is a complete ban on the import or export of a certain product or the stopping of all trade with a particular country. |
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| Training front-line people to make decisions. |
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| A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do business. |
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| The crossing point between supply and demand. |
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| an attitude that one’s own culture is superior to all others. |
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| The official monetary unit of the European Union. |
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| Is the value of one nation’s currency relative to the currencies of other countries. |
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| Is selling products to another country. |
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| One of 12 regional banks that monitor and act as depositories for banks in their region. |
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| An arrangement whereby someone with a good idea for a business sells the rights to use the business name and sell a product or service to others in a given territory in a specified manner. |
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| Is the practice of using another firms successful business model. |
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| international trade left to its natural course w/o tariffs, quotas, or other restrictions |
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| Exists when the market largely determines what goods and services get produced, who gets them, and how the economy grows. |
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| Frictional unemployment (2) |
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Definition
| Unemployment that is always present in the economy, resulting from temporary transitions made by workers and employers or from workers and employers having inconsistent or incomplete information. When you decide to quit your job without having another one lined up. |
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| GDP (Gross Domestic Product) (2) |
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Definition
| The monetary value of all the finished goods and services produced within a country's borders. |
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Definition
Tangible products such as…computers, food, clothing, cars, appliances, etc.
(Tangible = you can touch) |
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| Is buying products from another country. |
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| Persistent increase in the general price level of goods and services in an economy over a period of time |
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When foreign companies set up design and/or production facilities in the US.
(Toyota, Honda) |
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| A short term partnership in which two or more companies (often from different countries) join to undertake a major project. |
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| The right to manufacture its product or use its trademark to a foreign company (the licensee) for a fee (a royalty). |
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| Occurs when a business's expenses are more than its revenues. |
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| Looks at the operation of a nation’s economy as a whole. |
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| The price of a product determined by supply and demand. |
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| Looks at the behavior of people and organizations in particular markets. |
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Definition
| Exists when some of the allocation of resources is made by the market and some by the government. |
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| Monopolistic Competition (2) |
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Definition
| A large number of firms produce goods that are similar but perceived by buyers as different. (computers) |
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| Multinational Corporation (3) |
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Definition
| An organization that manufactures and markets products in many different countries and has multinational stock ownership and multinational management. |
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| NAFTA (North American Free Trade Agreement) (3) |
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Definition
| A free trade agreement that banned tariffs to increase economic activity between the US, Canada, and Mexico. |
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Definition
| The total amount of money the county's government has borrowed by various means. The sum of government deficits over time. |
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| Business that benefits the general public with out a profit motive. |
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| When a market is controlled by a small group of firms (example: cereal, soft drinks). |
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The way you think about or understand someone or something.
The ability to understand or notice something easily.
The way that you notice or understand something using one of your senses. |
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| The amount of output/the amount of input. (amount produced/hours worked) |
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| An increase in ____ means that more can be produced |
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| Limits the number of products in certain categories that a nation can import. |
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| Occurs when the economy stabilizes and starts to grow. |
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| The study of how to increase resources and to create the conditions that will make better use of those resources. |
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| The total amount of money a business takes during a given period by selling goods and services. |
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| Occurs when the demand for labor varies during different times of the year. |
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| A business that does work for a customer, and occasionally provides goods, but is not involved in manufacturing. Examples…lawn care, car maintenance, pet grooming, dry cleaner. |
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Definition
Intangible products such as education, health care, insurance, travel, lawn care, hair care, etc.
(Intangible = you cannot touch or hold it in your hand) |
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Definition
A state or situation in which something needed cannot be obtained in sufficient amounts.
Not being able to meet the consumer demand for a product. |
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| A person or business that has invested money in something. |
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| The amount of goods and services people can buy with the money they have. |
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| is a long-term partnership between two or more companies established to help each company build competitive market advantages. |
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| Total amount of a product available for purchase at any specified price. |
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Definition
| Are basically taxes on imports, thus making imported goods more expensive. |
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Definition
| When the cost of a country's imports exceeds their exports |
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Definition
| Is the use of government regulations to limit the import of goods and services. |
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| WTO (World Trade Organization) (3) |
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Definition
| Mediates trade disputes among nations. |
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Term
| IPO (Initial Public Offering) (19) |
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Definition
| A company’s first sale of stock in the market. |
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Definition
| A corporate certificate indicating that a person has lent money to a firm. (loan) |
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Definition
| Share of ownership in a company. |
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Definition
| Part of a firm’s profits that may be distributed to stockholders as either cash payments or additional shares of stock. |
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Definition
| Most basic form of ownership in a firm. Have voting rights. |
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Definition
| An organization whose members can buy and sell (exchange) securities for companies and individual investors. |
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Term
| NYSE (New York Stock Exchange) |
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Definition
| Largest, floor-based stock exchange. |
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Definition
| Abbreviation for a company name. Example: Timken = TKR |
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Definition
| A registered representative who works as a market intermediary to buy and sell securities for clients. |
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Definition
| The positive difference between the price at which you bought a stock and what you sell it for. |
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Definition
| Investors who believe the stock prices are going to rise; they buy stock in anticipation of the increase. |
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Definition
| Investors who expect stock prices to decline; they sell their stocks in anticipation of falling prices. |
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Definition
| Stock of high-quality companies. (Coca-Cola, GE, P&G) |
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Term
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Definition
Stocks that sell for less than $2.00
(risky). |
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Term
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Definition
Stock that tends to remain stable under difficult economic conditions.
(companies’ products/services stay in demand) |
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Definition
Stock that rises quickly when economic growth is strong and falls rapidly when growth is slowing down.
(car manufacturers, builders) |
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Definition
| Especially attractive to investors who are looking for current income that will gradually grow over the years…supplement their income. (older investors |
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Definition
| Securities which appreciate in value and yield a high return. Profits are reinvested…stock prices increase as company grows. (younger investors) |
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| Securities which investors consider to be undervalued. |
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Definition
| An action by a company that gives stockholders two or more shares of stock for each one they own. |
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Definition
| An organization that buys stocks and bonds and then sells shares in those securities to the public. Pool investors’ money…fund managers…spread the risk. |
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Definition
| Involves buying several different investment alternatives to spread the risk of investing. (don’t put all your eggs in one basket) |
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Definition
| The average cost of 30 selected industrial stocks. Used to give an indication of the market (up or down) over time. |
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Definition
| A written document that contains a summary of your work experience, including positions held at each employer, and your educational background. |
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Definition
| Introduces you and your resume to potential employers or organizations you seek to join (non-profits, educational institutions, etc). It is the first document an employer sees, so it is often the first impression you will make. |
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Definition
| General well-being of a society in terms of political freedom, a clean natural environment, education, health care, safety, free time, and everything else that leads to satisfaction and joy. |
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Definition
| Contracting with other companies to do some or all of the functions of a firm. |
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| The obtaining of private information about a person, such as Social Security number and/or credit card information. |
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