Economics

Items

• broker

  An intermediary who facilitates transactions between buyers and sellers, most commonly in financial markets, by executing trades on their behalf.
• budget

  A financial plan outlining projected income, expenses, and potential borrowing over a specific period, typically a year.
• budget deficit

  When a government's total spending exceeds its total revenue in a given fiscal year.
• bulk discount

  A price reduction offered to customers who purchase goods in large quantities.
• business

  An organization that engages in commercial activities to produce and sell goods or services for profit.
• business agent

  An individual who acts on behalf of another, whether a person or an entity, in business matters.
• business ethics

  Moral principles and standards that guide a company's conduct and its relationship with stakeholders.
• buy

  Obtain in exchange for payment.
• buyer

  A person who makes a purchase.
• buyer’s market

  An environment in which buyers have an advantage over sellers.
• buying power

  The amount of goods and services a person can purchase with a given amount of money.
• capital

  The resources used to produce goods and services, which are then used to generate income. It's a factor of production, along with land, labor, and entrepreneurship. Capital can be physical (like machinery and buildings) or financial (like money invested in a business).
• capital gain

  The profit realized when an asset is sold for more than its original purchase price.
• capital goods

  A physical asset, like machinery or buildings, used by a business to produce other goods or services.
• capitalism

  An economic system where private individuals or businesses own and control the means of production, with the goal of making a profit.
• capitalist

  A person who uses their wealth to invest in trade and industry for profit in accordance with the principles of capitalism.
• ceiling price

  A government-imposed limit on how high the price of a good or service can be sold.
• clearing house

  A central institution or mechanism that facilitates the settlement of financial obligations between buyers and sellers.
• collective bargaining

  A negotiation process between an employer and a labour union representing employees, aiming to determine terms and conditions of employment like wages, benefits, and working hours.
• communism

  A system where the state or community collectively owns and controls the means of production, resources, and wealth, aiming to achieve a classless society with equal distribution.
• commodity

  a good sold for production or consumption just as it was found in nature.
• consumer

  An individual or entity that purchases goods and services for their own use or consumption, rather than for resale or production.
• consumer credit

  Debt held by households, primarily used to finance personal expenses and purchases.
• consumer equilibrium

  The state where a consumer maximizes their satisfaction (utility) given their income and the prices of goods and services they consume.
• consumer goods

  Tangible products or services purchased by individuals for personal use, consumption, or enjoyment, rather than for further production or resale.