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Related Flashcards
Related Topics
Cards In This Set
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Managerial ethics
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Standards of behavior that guide individual managers in their work
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Business cycle
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Short term pattern of economic expansions and contractions pg19)
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Globalization
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Process by which the world economy is becoming a single interdependent system
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Demand
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The willingness and ability of buyers to purchase a good or service
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Entrepreneurship
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The process of seeing businesses opportunities under conditions of risk
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Export
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Product made or grown domestically but shipped and sold abroad
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Supply curve
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Graph showing how many units of a product will be supplied (offered for sale) at different prices
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Tariff
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Tax levied on imported products
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Consumerism
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Form of social activism dedicated to protecting the rights of consumers in their dealings with businesses
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Corporations
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Business that is legally considered an entity separate from it's owners and is liable for its own debts;
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Allocation of resources
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Finding the best way to use your resources
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Demand curve
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Graph showing how many units of a product will be demanded (bought) at different prices
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Equilibrium point
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Point at which the supply curve and demand curve meet
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Monopoly
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Market or industry in which there is only one producer which can thererfore set the prices of its products
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Monetary policy
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Management of the nations economic growth by managing the money supply and interest rates
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