Economic And Great depression Flashcards
Private or corporate ownership of goods and means of production,investments are determined by private decision and prices, production, and distribution of hoods are determined mainly by competition
Capitalist economy
System of producing goods and services,distribution,and money
Economy
System in which the means of production and goods are owned by the government and are available to all is needed along with elimination of private property.
Communist economy
System of collective or government ownership and administration of the means of production and distribution of goods
Socialist economy
Money that is left over after the expenses are paid
Profit
Represents a piece of a company’s growth and profits
Stock
The money needed to buy goods needed to produce a product
Capital
What quantity and what price people are willing and able to buy the product at given times
Demand
Share of profits paid to a stockholder
Dividend
What quantity and what price is available to buy at a given time
Supply
The rate of exchange for a good or service
Price
Negotiates contracts for purchase and sale
Broker
Amount loaned at a person’s disposal
Credit
Amount taken against a bank account
Debit
Period of reduced economic activity, a slow down
Recession
Increase in general price level
Inflatation
