-
Net Worth
total value of assets, minus liabilities
-
Econonmy of Scale
the relationship that occurs when increase efficiency lowers manufacturing costs as more of a product is made
-
Chapter 11
US bankruptcy code that allows a company to reorganize. The company is placed under a trusteeship and its debt is spread out over time or reduced
-
Capital
a company's available resources
-
Asset
a company's possession that has value
-
Trade Deficit
a condition that exists when the value of a nation's imports exceeds the value of its exports
-
Subsidy
government assistance to pay for items that are in the public interest but cannot be supported by the economy
-
Market Economy
an economoy dominated by buying and selling with little interference form a gonvernment
-
Gross National Product
the total value of goods and services produced by a nation during a specific time (Includes domestic and overseas investments)
-
Free Trade
A policy in which tariffs are reduced or eliminated between nations to encourage trade
-
Gold Standard
a term used when the currency of a country is backed up by a quantity of gold
-
Entitlement
Government funds issued to certain individuals because of a prescribed need
-
Default
a condition that exists when a borrower cannot repay a loan
-
Capital Gain
an increase in the value of an asset between the time it is bought and the time it is sold
-
Agrarian Economy
a pre-industrial economy
-
Commodity
a raw material such as wheat, corn, or oil that cna be sold
-
Net Pay
the amount of income after all deductions and taxes are paid
-
Gross Income
an individual's income before taxes, health insurance, and other deductions are paid
-
Chapter 13
a US bankruptcy law that allows an individual 3 to 5 years to pay off their debt
-
Security
a certificate issued by a corporation or a government that has value/ stock/ bond are the most common
|
|
