Business Final

the price of a commodity when sold in a given market

the optimum position of a market price that generates an equal amount of demand and supply for a product or service.

For manufacturer, the price that maximizes a products profitablility.

• supply over demand.
• and more than what is neeeded or used; excess.

a term that encompasses the notion of individuals and firms striving for a greater share of a market to sell.

the exclusive  possession or control of the supply or trade in a commodity or service.

a state of limited competition, in which a market is shared by a small number of producers or sellers.

• Gross domestic product.
• primary indicators used to guage the health of a countrys economy

control (by agreement among producers or by government) of the price of a commodity in interstate commerce.

the measure of economic growth from one period to another expressed as a percentage and adjusted for inflation

an index of the variation in prices paid by typical consumers for retail goods and other items.

secret or illegal cooperation or conspiracy in order to cheat or deceive others

money invested in a business or the value of a company as described in marketing

the amount by which the value of a countrys exports exeeds the cost of its imports

the amount by which the cost of a countrys imports exceeds the value of its exports

the difference of value over a period of time of a countrys imports and exports of merchandise.

a system of recording all of a countrys economic transactions with the rest of the world over a period of one year

someone whose business is to supply a particular service or commodity.

bring (good or service) into a country from abroad for sale

send (goods or services) to another country for sale