Business 9

the loss of the best and brightest people to other countires

the periodic rises and falls that occur in economies over time

economic system in which all or most of the factors of production and distribtuion are privately owned and operated for profit

economic systems in which the gvt largely decides what goods and services will be produced, who will get them, and how the economy will grow

an economic and political system in which the govt makes almost all economic decisions and owns almost all the major factors of production

montly statistics that measure the pace of inflation or deflation

a situation in which prices are declining

the quantity of products that people are willing to buy at different prices at a specific time

a severe recession, usually accompanied by deflation

a situation in which price increases are slowing (the inflation rate is declining)

the study of how society chooses to employ resources to produce goods and services and distribute them for consumption among various competing groups and indviduals

the federal govt's efforts to keep the economy stable by increasing or decreasing taxes and/or govt spending

economic system in which the market largely determines what goods and services get produced, who gets them, and how the economy grows

the total value of final goods and services produced in a country in a given year

a general rise in the prices of goods and services over time

phrase coined by adam smith to describe the process that turns self-directed gain into social and economic benefits for all

the theory that a govt policy of increasing spending and cutting taxes could stimulate the economy in a recession

the part of economics study that looks at the operation of a nations economy as a whole

the price determined by supply and demand

the part of economics study that looks at the behavior of people and organizations in particualr markets

economic systems in which some allocation of resources is determined by the market and some by the govt

the management of the money supply and interest rates by the federal reserve bank

the degree of competiotion in which a large number of sellers produce similar products that buyers nevertheless perceive as different

degree of competition in which only one seller controls the total supply of a product or service, and sets the price

the sum of gevt deficits over time

degree of competition in which just a few sellers dominate the market

the degree of competition in which there are many sellers in a market and none is able to dictate the price of a product

an index that measures prices at the wholesale level

two or more consecutive quarters of decline in the GDP

the study of how to increase resources and to create the conditions that will make better use of those resources

an economic system based on the premise that some, if not most, basic businesses should be owned by the government so that profits can be more evenly distributed among the people

a situation when the economy is slowing but prices are going up anyhow

the quantity of products that manufacturers or owners are willing to sell at different prices at a specific time

the number of civilians who are at least 16 years old who are unemployed and tried to find a job within the prior four weeks