BUS 110

42 cards

Midterm terms


 
  
Created Dec 7, 2006
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1
Capital
 
A collective term for both the funds used to finance a company's operations and its physical,...
2
Capitalism
 
Economic system based on economic freedom, private ownership, and competition
3
Communism
 
Economic system in which the government owns and operates all productive resources and determines...
4
Consumer Price Index (CPI)
 
Monthy statistic that measures changes in the prices of about 400 goods and services that consumers...
5
Economic Indicators (How are they used?)
 
Statistics that measure significant variables in the economy -Used for watching the performance...
6
Economics
 
The study of how society uses scarce resources to produce and distribute goods and services
7
Microeconomics
 
The study of how consumers, businesses, and industries collectively determine the quantity...
8
Economics
 
The study of how society uses resources to produce and distribute goods and services
9
Microeconomics
 
The study of how consumers, businesses, and industries collectively determine the quantity...
10
Macroeconomics
 
The study of "big picture" issues in an economy including competitive behavior among firms,...
11
fiscal policy
 
Use of government revenue collection and spending to influence the business cycle
12
free market system
 
Economic system in which decisions about what to produce and in what quantities are decided...
13
gross domestic product (GDP)
 
Value of all the final goods and services produced by businesses located within a nations borders;...
14
gross national product (GNP)
 
Value of all the final goods and services produced by domestic businesses that includes receipts...
15
Recession
 
Period during which national income, employment, and production all fall
16
Stakeholders
 
Individuals or groups to whom business has a responsibility
17
Socialism
 
Economic system characterized by public ownership and operation of key industries combined...
18
Affirmative action
 
Activities undertaken by businesses to recruit and promote women and minorities, based on an...
19
Consumerism
 
Movement that pressures businesses to consider consumer needs and interests
20
Corporate social responsiblity
 
The concern of businesses for the welfare of society as a whole
21
Ethical Dilemma
 
Situation in which both sides of an issue can be supported with valid agruments
22
Justice
 
The resolution of ethical questions and other dilemmas in a manner that is consistent with...
23
Whistle-blowing
 
The disclosure of information by a company insider that exposes illegal or unethical behavior...
24
Balance of payments
 
Sum of all payments one nation receives from other nations minus the sum of all payments it...
25
Comparitive advantage theory
 
Theory that states that a country should produce and sell to other countries those items it...
26
Economies of scale
 
Savings from buying parts and materials, manufacturing, or marketing in large quantities
27
Ethnocentrism
 
Judging all other groups according to your own group's standards, behaviors, and customs
28
Exchange rate
 
Rate at which the money of ones counrty is trades for the money of another
29
Protectionism
 
Government policies aimed at shielding a country's industries from foreign competition
30
Tariffs
 
Taxes levied on imports
31
Trade deficit
 
Unfavorable trade balance created when a counry imports more than it exports
32
Trading blocs
 
Organizations of nations that remove barriers to trade among their memebers and that establish...
33
Chief Information Officer (CIO)
 
A high-level executive responsible for understanding the company's information needs and creating...
34
Data mining
 
A method of extracting previously unknown relationships among individual data points in a database
35
e-commerce
 
Short for 'electronic commerce', which refers to marketing and selling products over the internet
36
Extranets
 
Websites that are similar to intranets but also allow access by trusted outside business partners
37
Intellectual property
 
A wide range of creative outputs with commercial value, such as design ideas, manufacturing...
38
Malware
 
shorts for 'malicious software'; an unbrella term for illicit software with destructive, invasive,...
39
Wi-Fi
 
A wireless alternative for LANs; short for 'wireless fidelity'
40
Metacrawlers
 
Online tools that format search requests for the specific requirements of multiple search engines
41
Board of directors
 
Group of people, elected by the shareholders, who have the ultimate authority in guiding the...
42
Common stock
 
Shares whose owners have voting rights and have the last claim on distributed profits and assets

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