Principles of Business, Unit 1: Chapter 2

This list focuses on economic activity (Unit 1, Chapter 2).

Here are links to all the chapters of Unit 1, Business in the Global Economic Environment: Chapter 1, Chapter 2, Chapter 3, Chapter 4

Here are links to all the units of the business textbook published by South-Western Cengage Learning: Unit 1, Unit 2, Unit 3, Unit 4
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Full list of words from this list:

words only definitions & notes
  1. gross
    before any deductions
  2. domestic
    of concern to or concerning the internal affairs of a nation
  3. product
    a commodity offered for sale
  4. per capita
    relating to each person individually
  5. employ
    engage or hire for work
  6. labor
    productive work, especially physical work done for wages
  7. productivity
    the amount of work each worker can complete in a set time
  8. personal
    particular to a given individual
  9. income
    the amount of money one makes over a period of time
  10. retail
    the selling of goods to consumers
  11. cycle
    a periodically repeated sequence of events
  12. prosperity
    a state of growth with rising profits and full employment
  13. recession
    a situation in which the state of the economy declines
  14. depression
    a long-term economic state with unemployment and low prices
  15. recovery
    the act of regaining or saving something lost
  16. inflation
    a general and progressive increase in prices
  17. index
    a numerical scale used to compare variables with one another
  18. decline
    go down in value
  19. capital
    assets available for use in the production of further assets
  20. project
    a planned undertaking
  21. stock
    capital raised by a corporation through the issue of shares
  22. bond
    a certificate of debt issued by a government or corporation
  23. budget
    a sum of money allocated for a particular purpose
  24. surplus
    a quantity much larger than is needed
  25. deficit
    an excess of liabilities over assets
  26. national
    of or relating to or belonging to a country
  27. debt
    money or goods or services owed by one person to another
  28. statistician
    someone versed in the interpretation of numerical data
  29. prime
    first in rank or degree
  30. discount
    an amount or percentage deducted
Created on Thu Oct 20 16:35:53 EDT 2016 (updated Thu Oct 27 10:55:07 EDT 2016)

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