Private corporation
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fewer owners that own all of the stock
not made available for purchase by the public
very illiquid (not easily traded)
Franchise
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One company obtains the rights to sell the products and use various
elements of a business system of another company
,4 points of GDP growth curve
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Peak: highest point of GDP before a downturn
Recession: period of negative GDP growth for 2 or more quarters
Trough: lull in growth
Expansion: early part is called recovery
Theory of competitive advantage
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countries should tend to specialize in industries that take advantage of their
relative factor endowments and through trade and specialization they
could be made better off
countries should focus on what they have in abundance
GDP/Gross Domestic Product
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sum of all goods and services produced in economy over period of time
Infant industry argument
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, Advanced countries have larger manufacturing opertations
Put tariff on imports and we will develop manufacturing and then become
rich
Transparency
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The degree to which affected parties can observe relevant aspects of
transactions or decisions
Absolute advantage
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who can produce more of a good
Economic globalization
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increasing integration and interdependence of national economics around
the world
Line Job
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fewer owners that own all of the stock
not made available for purchase by the public
very illiquid (not easily traded)
Franchise
Give this one a try later!
One company obtains the rights to sell the products and use various
elements of a business system of another company
,4 points of GDP growth curve
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Peak: highest point of GDP before a downturn
Recession: period of negative GDP growth for 2 or more quarters
Trough: lull in growth
Expansion: early part is called recovery
Theory of competitive advantage
Give this one a try later!
countries should tend to specialize in industries that take advantage of their
relative factor endowments and through trade and specialization they
could be made better off
countries should focus on what they have in abundance
GDP/Gross Domestic Product
Give this one a try later!
sum of all goods and services produced in economy over period of time
Infant industry argument
Give this one a try later!
, Advanced countries have larger manufacturing opertations
Put tariff on imports and we will develop manufacturing and then become
rich
Transparency
Give this one a try later!
The degree to which affected parties can observe relevant aspects of
transactions or decisions
Absolute advantage
Give this one a try later!
who can produce more of a good
Economic globalization
Give this one a try later!
increasing integration and interdependence of national economics around
the world
Line Job
