Business 101: Chapter 2
Budget deficit - ANS-Shortfall that occurs when expenses are higher than revenue over
a given period of time.
Budget surplus - ANS-Overage that occurs when revenue is higher than expenses over
a given period of time.
Business cycle - ANS-The periodic contraction and expansion that occur over time in
virtually every economy.
Capitalism - ANS-An economic system—also known as the private enterprise or free
market system— based on private ownership, economic freedom, and fair competition.
Commercial banks - ANS-Privately owned financial institutions that accept demand
deposits and make loans and provide other services for the public.
Communism - ANS-An economic and political system that
calls for public ownership of virtually all enterprises, under the direction of a strong
central government.
Consumer Price Index (CPI) - ANS-A measure of inflation that evaluates the change in
the weighted-average price of goods and services that the average consumer buys
each month.
Contraction - ANS-A period of economic downturn, marked by rising unemployment and
falling business production.
Deflation - ANS-A period of falling average prices across the economy.
Demand - ANS-The quantity of products that consumers are willing to buy at different
market prices.
Demand Curve - ANS-The graphed relationship between price and quantity from a
customer demand standpoint.
Depression - ANS-An especially deep and long-lasting recession.
Los beneficios de comprar resúmenes en Stuvia estan en línea:
Garantiza la calidad de los comentarios
Compradores de Stuvia evaluaron más de 700.000 resúmenes. Así estas seguro que compras los mejores documentos!
Compra fácil y rápido
Puedes pagar rápidamente y en una vez con iDeal, tarjeta de crédito o con tu crédito de Stuvia. Sin tener que hacerte miembro.
Enfócate en lo más importante
Tus compañeros escriben los resúmenes. Por eso tienes la seguridad que tienes un resumen actual y confiable.
Así llegas a la conclusión rapidamente!
Preguntas frecuentes
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
100% de satisfacción garantizada: ¿Cómo funciona?
Nuestra garantía de satisfacción le asegura que siempre encontrará un documento de estudio a tu medida. Tu rellenas un formulario y nuestro equipo de atención al cliente se encarga del resto.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Hkane. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for $7.99. You're not tied to anything after your purchase.
