Intro to Business
Terms
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- GDP
- Growth Domestic Product
- Monetary Policy
- government policies which try to influence the economy by changing the amount of money circulating in the economy (money supply) and the interest
- Standard of Living
- Usually refers to a country's per capita income, but sometimes takes account also of additional conditions that matter for a person
- Balance of Trade
- difference between the value of a nation's imports and the value of its exports
- Trust
- have confidence or faith in
- Quota
- A proportional part or share
- Contract
- A contract is a legally binding exchange of promises or agreement between parties that the law will enforce
- Oligopoly
- The situation where a small number of companies own or control the production of a particular good or provision of services within a market
- Economic Indicator
- A government issued statistic that indicates current economic growth and stability.
- Embargo
- To impose an embargo on trading certain goods with another country