The quantity of something that producers have available for sale
New cards
2
demand
the quantity of a good or service that consumers are willing and able to buy
New cards
3
multinational
A corporation that engages in business worldwide
New cards
4
conglomerate
a group of diverse companies under common ownership and run as a single organization
New cards
5
elastic
describes demand that is very sensitive to a change in price
New cards
6
inelastic
describes demand that is not very sensitive to price changes
New cards
7
Shorting/Short Selling
an investment or trading strategy that bets on a decline in a security's price. An investor or trader expects the shares to drop and to be able to purchase them at a lower cost, thus keeping the difference as a profit.
New cards
8
bond
a formal contract to repay borrowed money with interest at fixed intervals
New cards
9
stock
A share of ownership in a corporation.
New cards
10
shareholder
A person who invests in a corporation by buying stock and is a partial owner
New cards
11
non
profit
New cards
12
double taxation
a corporation pays income taxes on its earnings, and when dividends are distributed to stockholders, the stockholders pay taxes a second time on the corporate dividends they receive
New cards
13
horizontal merger
the combination of two or more firms competing in the same market with the same good or service
New cards
14
vertical merger
the combination of two or more firms involved in different stages of producing the same good or service
New cards
15
sole proprietor
A business owned by one person
New cards
16
dividend
The portion of corporate profits paid out to stockholders
New cards
17
unlimited liability
The owner is personally and fully responsible for all losses and debts of the business
New cards
18
limited liability
A form of business ownership in which the owners are liable only up to the amount of their individual investments.
New cards
19
Estate Tax (Death Tax)
a tax levied on the net value of the estate of a deceased person before distribution to the heirs.
New cards
20
Microeconomics
the study of how households and firms make decisions and how they interact in markets
New cards
21
Macroeconomics
the study of economy
New cards
22
TINSTAAFL
acronym for THERE IS NO SUCH THING AS A FREE LUNCH; means that there is always a cost for a product, even if it is not evident.
New cards
23
Corporation
A business owned by stockholders who share in its profits but are not personally responsible for its debts
New cards
24
union
A worker association that bargains with employers over wages, benefits, and working conditions
New cards
25
equilibriam
A state of balance
New cards
26
royalty fee
weekly or monthly payments made by the owner of the franchise to the seller of the franchise
New cards
27
Franchise
A business established or operated under an authorization to sell or distribute a company's goods or services in a particular area
New cards
28
command economy
An economic system in which the government controls a country's economy.
New cards
29
Traditional Economy
An economy in which production is based on customs and traditions and economic roles are typically passed down from one generation to the next.
New cards
30
market economy
Economic decisions are made by individuals or the open market.
New cards
31
Janet Yellen
Secretary of Treasury
New cards
32
Jerome Powell
Chairman of the Federal Reserve
New cards
33
FOMC (Federal Open Market Committee)
the branch of the Federal Reserve Board that determines the direction of monetary policy
New cards
34
Herschel
Discovered Uranus and made a forty
New cards
35
Rule of 70
Doubling time (in years) = 70/(percentage growth rate).
New cards
36
CPI (Consumer Price Index)
an index of the cost of all goods and services to a typical consumer
Studied by 2 people
Note 
Flashcard (34)