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Business

  1. Aggregarte Output
    total quantity of goods and services produced by an economic system during a given period
  2. Standard of Living
    total quantity and quality of goods and services that a country's citizens can purchase with currency used in their economic system
  3. Business Cycle
    • patterns of short term ups and dons in an economy.
    • 4 phases: peak, recession, trough and recovery
  4. Gross Domestic Product GDP
    total value of all goods and services produced within a given period by national economy through domestic factors of production
  5. Gross National Product (GNP)
    total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located.
  6. GDP per Capita
    gross domestic product per person
  7. Real GDP
    GDP calculated to account for currency and price changes
  8. Nominal GDP
    GDP measured in current dollars and prices
  9. Purchasing Power Parity
    principle that exchange rates are set so that the prices of similar products in different countries are about the same
  10. Produtivity
    measure of economic growth that compares how much a system produces with the resources needed to produce it
  11. Balance of Trade
    the total of a country's exports minus its imports
  12. National Debt
    total amount of money that a country owes its creditors
  13. Budget Deficits
    result of government spending more in one year then it takes in during that year
  14. Inflation
    occurrence of widespread price increases throughout an economic system
  15. Deflation
    a period of generally falling prices
  16. Unemployment
    level of joblessness among people actively seeking work in an economic system
  17. Factors that Threaten Economic Stability
    • 1. Inflation
    • 2. Deflation
    • 3. Unemployment
  18. Federal Government Manages Canadian Economy Through Two Sets Of Policies
    • 1. Fiscal Policy
    • 2. Monetary Policy
  19. Fiscal Policies
    government collect and spends revenues
  20. Monetary Policies
    the government controls the size of the nations money supply
  21. total quantity of goods and services produced by an economic system during a given period
    Aggregate Output
  22. total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system
    Standard of Living
  23. patters of short term ups and downs in an economy
    Business Cycle
  24. total value of all goods and services produced within a given period by a national economy through domestic factors of production
    GDP
  25. total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located.
    GNP
  26. gross domestic product per person
    GDP per Capita
  27. GDP calculated to account for currency and price changes
    Real GDP
  28. GDP measured in current dollars and prices
    Nominal GDP
  29. principle that exchange rates are set so that the prices of similar products in different countries are about the same
    Purchasing Power Parity
  30. measure of economic growth that compares how much a system produces with the resources needed to produce it
    Produtivity
  31. the total of a country's exports minus its imports
    Balance of Trade
  32. total amount of money that a country owes its creditors
    National Debt
  33. result of government spending more in one year then it takes in during that year
    Budget Deficits
  34. occurrence of widespread price increases throughout an economic system
    Inflation
  35. a period of generally falling prices
    Deflation
  36. level of joblessness among people actively seeking work in an economic system
    Unemployment
  37. government collect and spends revenues
    Fiscal Policies
  38. the government controls the size of the nations money supply
    Monetary Policies
Author
rgundy
ID
60609
Card Set
Business
Description
Business Terms
Updated

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