TERMS 201-300

  1. liquidity
    the ease with which savings or other assets can be converted to cash
  2. lockout
    suspending business and wages to pressure a union to accept management's terms
  3. long-term loans
    loans that mature (come due) in more than a year
  4. macroeconomics
    the study of the economy as a whole
  5. market
    place where buyers and sellers come together
  6. market economy
    an economic system in which national economic decisions are the result of decisions by individual buyers and sellers in the marketplace
  7. marketing
    the business activities that take place between production and consumption
  8. marketplace
    any place in which goods are bought and sold
  9. market price
    price at which goods or service and money will actually be exchanged. The price at which supply exactly equals demand.
  10. mass production
    the production of goods and services on a large scale, using division of labor and machinery or technology
  11. mediation
    method for settling labor disputes in which a third party makes nonbinding suggestions
  12. mercantilists
    some of the first modern economists who believed that nations should behave like merchants competing with one another; they wanted government support to keep the nation's businesses competitive
  13. merger
    combination of previously separate firms into one
  14. microeconomics
    the study of the individual parts of the economy with special attention to the market process and how it works
  15. minimum wage laws
    establish the lowest legal wage that an employer can pay
  16. mixed economy
    economic system that combines elements of public ownership of the means of production with private ownership
  17. monetary policy
    use of Federal Reserve's power to control the supply of money and credit to influence economic activity in the nation as a whole, particularly to control inflation and stimulate economic growth
  18. money
    can be anything that is generally accepted in payment for goods and services
  19. money market
    market for short-term credit instruments such as Treasury bills
  20. money-market funds
    mutual funds that use the resources of their investors to buy money-market certificates
  21. monopolist
    seller who controls the supply of a good or a service
  22. monopolistic competition
    a market in which many firms are selling similar products
  23. monopoly
    market in which there is only one seller
  24. mortgage
    a long-term loan usually used to finance a building
  25. mutual funds
    corporations that sell stock and use the proceeds to invest or speculate in the securities markets
  26. nationalization
    government takeover of a pricately owned industry
  27. natural resources (land)
    the things provided by nature that go into the creation of goods and services
  28. near monies
    assets that are easily turned into cash
  29. net exports
    the difference between total exports and total imports over the course of a year
  30. net interest
    an item in the federal budget representing the difference between the interest earned by the government on its investments and the interest it must pay on its debts
  31. net worth
    the difference between a firm's assets and its liabilities
  32. nonprice competition
    methods other than selling-price changes used by firms to compete with one another
  33. notes payable
    short-term loans owed by the corporation
  34. not-for-profit corporation
    one that has been organized to serve some particular educational, social, charitable or religious purpose rather than to earn a profit
  35. oligopoly
    market dominated by a few large firms
  36. OPEC (Organization of Petroleum Exporting Countries)
    a cartel of crude-oil producing countries formed to regulate the production and prices of petroleum on international markets
  37. open (or public) corporation
    one whose stock is sold to the public
  38. Open Market Committee
    agency of the Federal Reserve that regulates the nation's money supply
  39. open-market operations
    refers to the purchase and sale of government securities by the Fed's Open Market Committee
  40. open shop
    a business open equally to union and nonunion workers
  41. opportunity cost
    the amount of goods and services that must be given up in order to obtain other goods and services
  42. output per worker per hour
    terms in which productivity is usually measured
  43. over-the-counter market
    brokerage firms around the nation that buy and sell securities of smaller firms not listed on the large exchanges
  44. overhead costs
    fixed costs of doing business
  45. partnership
    unincorporated business organization owned by two or more persons
  46. passbook and statement savings accounts
    savings accounts offering case of withdrawal, safety of prrincipal, and low interest rates
  47. patent
    a monopoly to use a new product or idea exclusively for 17 years
  48. per capita real GNP
    GNP adjusted for changes in average prices and divided by the population; a figure showing the amount of real goods and services per person produced in the nation in a given year
  49. perfect competition
    a market for uniform products in which there are many buyers and sellers, no one of which is big enough to affect the price, full knowledge of market conditions
  50. preferred stock
    stock that receives a specified dividend before any dividends are paid on common stock and that receives a share of the assets of a liquidated corporation ahead of common stockholders
  51. price
    the money value of a good or service
  52. price discrimintation
    practice of selling the same product for less to one company than to another
  53. price stability
    the absence of inflation or deflation
  54. price system
    exonoomic system in which resources are allocated as a result of the interaction of the forces of supply and demand
  55. principal
    the amount borrowed
  56. private property
    basic right of the free enterprise system that guarantees the individuals right to own, use, and dispose of things of value
  57. producer co-ops
    manufacturers and marketers of products on behalf of their members
  58. product
    the good or service one receives in an exchange
  59. product differentiation
    process of creating uniqueness in a product
  60. product labeling
    attaching to a product statements identifying its contents and use
  61. production possibilities curve
    a curve showing the possible combinations of total output that could be produced if a nation's resources were fully employed
  62. productive capital
    things used to produce goods and services
  63. productivity
    the output of goods and services as measured per unit of time, per person, per company...
  64. profit
    what remains after the costs of doing business have been met
  65. profit and loss statement
    summary of a firm's revenue, costs and taxes over a period of time
  66. profit margin
    difference between cost and selling price
  67. profit motive
    the desire to benefit from the investment of time and money in a business enterprise
  68. progressive tax
    ne that takes a larger percentage of a higher income and a smaller percentage of a lower income
  69. promotion
    program designed to sell goods or services to the public
  70. proportional tax
    one that takes the same percentage of all incomes regardless of size
  71. prospectus
    a statement containing perinent financial information published when a corporation is about to issue new securities
  72. protective tariff
    tariff levied to protect a domestic industry from foreign competition
  73. proxy
    a written authorization transferring voting rights to another at a stockholders' meeting
  74. public utilities
    privately owned firms that provide an essential public service and are subject to government regulation
  75. purchasing power
    value of money
  76. quality circles
    small, voluntary groups of employees who meet regularly to identify and solve work problems
  77. quality control
    maintaining acceptable and dependable lvels of quality in production
  78. quotas
    restrictions on the number of goods that can enter the country from abroad
  79. rate of exchange
    the price at which a particular currency sells in terms of other currencies
  80. rate of inflation
    annual percentage increase in the general level of prices
  81. rate of return
    the amount of interest or dividends stated as a percentage of the principal of an investment
  82. national appeals
    rely on logic or reason to convince the consumer to buy a product
  83. real GNP
    adjusted for changes in the price level
  84. recession
    the bottom of the busines cycle
  85. regressive tax
    one that takes a higher percentafe of a low income and a lower percentage of high income
  86. rent
    return paid to those who supply the factor of production known as land
  87. research and development
    activity directed towards discovering new products & processes
  88. reserve ratio
    the proportion of a bank's deposits that cannot be loaned
  89. resources
    anything used as an input in the creation of goods and services
  90. retained earnings
    undistributed profits
  91. revenue tariff
    tax on imports designed to raise money for the gov
  92. right to work laws
    state laws guaranteeing individuals the right to hold a job without being required to join a union
  93. rural community
    one in which there are fewer than 2500 residents
  94. sales tax
    a regressive tax added to the sale of goods when they are sold
  95. savings institution
    financial institution that holds personal savings
  96. scarcity
    a limit to the supply of productive resources or consumer goods in relation to producers' or consumers' demand for them
  97. S corporation
    business organization that enjoys advantages of the corporation without being subject to corporate taxes
  98. security exchange
    market where brokers meet to by and sell stocks and bonds
  99. Securities and Exchange Comission SEC
    Federal agency charged with protecting the public against wrogdoing in the sale of securities
  100. seniority
    the importance assigned to a worker's length of service whin it comes to questions of raises or layoffs
Card Set
TERMS 201-300
DECA Competencies