Economics Final

ephemeral

ephemeral

lasting for only a short time, transitory, short lived

patent

exclusive right granted by a government to an inventor to manufacture or sell an invention

marketing

the activities a company undertakes to promote the buying or selling of a product/service

brand awareness

the extent to which consumers are familiar with the image of a particular brand

FDA

executive branch, responsible for protecting and promoting public health

commodity

article to be bought or sold, especially as a product as distinguished from a service

ration

restrict the consumption of a commodity

insulin

hormone produced in the pancreas that regulates the amount of glucose in the blood

monopoly

exclusive control of a commodity in a particular market that makes possible the manipulation of prices due to a lack of competition

premium

monthly amount a customer must pay to an insurance company to be insured

deductible

minimum amount a customer pays a doctor before insurer pays the rest

anti trust law

laws that promote business competition and prevent monopolies

high deductible plan

insurance that kicks in after customer spends a lot of their own money

default

failure to pay back a loan, occurs if the borrower is unwilling/unable to pay their debt

foreclosure

property is taken back from the borrower by the lender in reaction to default on the loan, property is sold by the lender to offset the loss incurred by the loan

leverage

investment strategy of using borrowed money to increase the potential return of an investment

cronyism

practice of appointing friends to high level positions regardless of their suitability

exchange

place for buying and selling securities where purchases and prices are public

CDO

collateralized debt obligation, mechanism used to sell debt

biotechnology

broad area of commercial biology involving use of living organisms to develop products

pandemic

outbreak of a disease that occurs over a wide geographic area such as multiple countries or continents

epidemic

rapid increase in the occurrence of something, prevalent in a community or region but has not gone international

earmark

setting a particular amount of money aside for a specific purpose

efficacy

the ability to produce a desired or intended result

gouge

excessive or improper charge for something

mortgage

loan taken in order to purchase property, secured by the purchased property

collateral

an asset that the lender can take from the borrower if the loan isn’t repaid

supply chain

network between a company and its suppliers to produce and distribute a specific product

subprime mortgage

loans to people who may have difficulty paying them back

securities

stocks, bonds, derivatives, tradable financial assets

derivitave

derive their value from their interaction with another security

exposure

amount of money an investor stands to lose

insolvent

person or business that cant pay back their debts

futures

financial contract obligating something to be bought or sold at a predetermined future date and price

nanny state

government or its policies are overprotective

AIG

american international group

naked credit default swap

purchaser of insurance doesnt have to own the security thats being insured

teaser rate

rate of interest is low at the start of the loan but increases quickly

home equity

difference between homes fair market value and the outstanding balance of all debts owed on the property

credit default swap

derivative, customer pays monthly fee to insurer for an investment, if it declines significantly then then insurer pays the customer

cash reserve

money thats set aside incase of calamity

irrational

not logical or reasonable

unicorn

privatley owned startup company with a value of over $1B viewed as lucrative for early investors

tout

to describe or advertise boastfully, praise extravagently

altruism

willing to do things that bring advantages to others, even if it results in disadvantage from yourself

dubious

not to be relied on, suspect, not trustworthy, questionable

incentive

motivating influence, thing that encourages one to do something

plush

fancy and expensive, luxurious

affluence

abundance of money, property, and other material goods

move

to sell or trade

dictate

to give orders

venture

business or action/decision in which something is risked in the hope of profit

market capitalization

add up the value of all shares that exist for a company

S&P 500

standard and poors, group of 500 publicly traded companies, total market cap of $35 trillion

AT&T Park

american telephone and telegraph co., opened in 2000, construction cost of 357 mil, now oracle park, first MLB park built without public funds

tab

cost, insurance, expense, check, change, bill

indulgence

act that satisfied a desire, often viewed as excessive

squander

to spend extravagantly and wastefully

marquee

exceptionally popular or skilled

tank

to suffer a sudden decline or failure

precipitous

dangerously high or steep

franchise

authorization granted to conduct specialized commercial activities

lavish

spending money more than necessary

deficit

the amount by which money spent is more than money received

siphon

redirect money dishonestly and spend it on a purpose for which it was not originally intended

median

middle number

implode

collapse

Free agency

The ability of professional athletes to negotiate and sign contracts with any team in a sports league, without being bound to a specific team, rozelle rule that punishes teams if they hire a player without original teams consent, mackey v NFL and rozelle rule found to be unfair, free agency granted in 1993

red

being in debt, owing money, operating at a loss

black

operating at a profit, free of debt

apostate

person who abandons their religion/party/cause

plutocrat

person whos power derives from their wealth

adjusted for inflation

translating the value of money from past into what its valued at now ($10 in 2001=$17 in 2023, $10 in 1920=$154 in 2023)

tam high tuition

$22,400/yr

athletic scholarships

USA only colleges to offer athletic sch

apparatus

any instrument mechanism or system for a particular purpose

pariah

person who is avoided or not accepted by a social group, not liked respected or trusted, outcast

entrenched

established firmly so it cant be changed

thwart

to stop something from happening

consolidate

to bring together into a single or unified whole

subpoena

order of a court compelling a witness to be present at a trial under penalty or fine of imprisonment

deliniate

describe or outline with precision

clout

strong influence, especially political power

consolidation and oligopoly

economic sector thats dominated by a few companies, lacks competition (confectionary sector - mars, nestle, hershey)

emissions scandal

VW, porche, audi. All diesel models from 2009-16, liscensed a selective catalytic reduction system in their models that would reduce nitrogen oxide emmissions, programmed to only work in lab testing, VW paid $2.8B fine and senior exec sentences to seven years in prison

Sway

french thought people who didnt know the answer didnt deserve the money and would feel that justice was deserved, car dealers care about is manufacturers interact fairly, prisoners and VCs want their voice to be heard, americans helped people in gameshow, russians gave the wrong answer, tribe took anything they were offered

Indianapolis colts lucas oil stadium

$720M to build, money taken from taxes (food and bev, cigarettes, extra income for rich)

houstan texans NRG/reliant stadium

$352M to build , money from taxes (hotel taxes, car rental taxes, and parking tax for stadium)

minnesota vikings US Bank stadium

$975M to build, vikings paid for half, state put some and other was from taxes

FTC

federal trade commission

non-compete clause

contractural term between employer and worker that blocks worker for working for competing employer or starting competing business

Camel racing

UAE used kids kidnapped or bought from families as camel jockeys, kids were kept in camps and starved/abused, ansar burney (pakistani human rights activist)

Marlins stadium

better stadium=better funding and playing, David samson president of marlins, community thought it was too expensive, carlos jimenez republican county commissioner didnt approve, jeffery loria owner of marlins, county paid for 70% of stadium

charles james

5’9, cut for being too short, no NFL career ever

EZ nwachukwu

called tryouts hunger games, cut, no NFL career ever

Kourtnei brown

cut six times, screamed at by coach, told by boss he cant be tired, makes a big play but got cut, no NFL career ever

Mike vrabel

linebackers coach, head coach of titans

Bill o’brien

texans head coach, fired because they werent winning enough

Lynden trail

rookie linebacker, most unstable SOB you can have, acute quad tendon strain, has daughter, doesnt make team

christian covington

rookie defensive tackle, rice university, got spot on team