(EC) Economics

Form utility

product design, features, and packaging

Time utility

making products available when needed

Place

ensuring products are available when consumers want them

Possession utility

ease of acquiring product

Socialist command economies

provide many human service programs, but levy high taxes

Depression

severe downturn of business activity characterized by high unemployment and significantly reduced consumer demand long term

Contraction

a phase of declining economic activity

certificate of desposit

a certificate issued by a bank to a person depositing money for a specified length of time. Early withdrawal fees apply

base currency

on the left side of the slash in exchange rates (ex. USD/EUR)

behavior modeling