Summaries

accounting, Systematic development and analysis of information...

advertising, Techniques and practices used to bring products,...

auction, Buying and selling of property through open public...

Austrian school of economics, Body of economic theory developed...

bank, Institution that deals in money and its substitutes and...

economic system, Set of principles and techniques by which a...

economics, Social science that analyzes and describes the consequences...

government budget, Forecast of governmental expenditures and...

industrial relations, or organizational relations , Study of...

insurance, Contract that, by redistributing risk among a large...

marketing, Activities that direct the flow of goods and services...

money, Commodity accepted by general consent as a medium of...

social security, Public provision for the economic security...

Organization of American States (OAS), International organization...

consumer price index (CPI), Measure of living costs based on...

e-commerce, in full electronic commerce , business-to-consumer...

gross domestic product (GDP), Total market value of the goods...

jizya, or jizyah , Poll tax that early Islamic rulers demanded...

manorialism, or seignorialism , Political, economic, and social...

euro, Single currency of 18 countries of the European Union...

defense economics, Field of national economic management concerned...

economic development, Process whereby simple, low-income national...

security, In finance, written evidence of ownership conferring...

socialism, System of social organization in which private property...

money market, Set of institutions, conventions, and practices...

Labour Party, British political party whose historic links with...

monetary policy, Measures employed by governments to influence...

land reform, Deliberate change in the way agricultural land...

tariff, or customs duty , Tax levied upon goods as they cross...

Henry Ford, (born July 30, 1863, Wayne county, Mich., U.S.—died...

chartered company, Type of corporation that evolved in the 16th...

property, In law, something that is owned or possessed.

trademark, Mark used by a manufacturer or merchant to identify...

political economy, Academic discipline that explores the relationship...

business law, or commercial law or mercantile law , Legal rules...

commerce clause, In the Constitution of the United States (Article...

contract, Agreement between two or more parties that creates...

embargo, Legal action by a government or group of governments...

welfare, or social welfare , Any of a variety of governmental...

consumerism, Movement or policies aimed at regulating the products,...

bankruptcy, Status of a debtor who has been declared by judicial...

corporation, Specific legal form of organization of persons...

apprenticeship, Training in an art, trade, or craft under a...

chamber of commerce, or commercial association , Any of various...

economic growth, Process by which a nation’s wealth increases...

economic planning, Use of government to make economic decisions...

economic stabilizer, Any of the institutions and practices in...

fiscal policy, Measures employed by governments to stabilize...

futures, Commercial contracts calling for the purchase or sale...

inflation, In economics, increases in the level of prices.

market, Means by which buyers and sellers are brought into contact...

price index, Measure of change in a set of prices, consisting...

supply and demand, Relationship between the quantity of a commodity...

foreign exchange, Purchase or sale of one national currency...

gold standard, Monetary system in which the standard unit of...

rent, In common usage, payment made in return for the right...

Federal Reserve System, U.S.

income tax, Levy imposed by public authority on the incomes...

labour economics, Study of how workers are allocated among jobs,...

macroeconomics, Study of the entire economy in terms of the...

migrant labour, Semiskilled or unskilled workers who move from...

physiocrat, Member of a school of economics, founded in 18th-century...

production management, or operations management , Planning,...

productivity, In economics, a measure of productive efficiency...

property tax, Levy imposed on real estate (land and buildings)...

sales tax, Levy imposed on the sale of goods and services.

work, In economics and sociology, the activities and labour...

audit, Examination of the records and reports of an enterprise...

business cycle, Periodic fluctuation in the rate of economic...

business finance, Raising and managing of funds by business...

capitalism, or free-market economy or free-enterprise system...

central bank, Institution, such as the U.S.

consumption, In economics, the final using up of goods and services.

credit card, Small card that authorizes the person named on...

econometrics, Statistical and mathematical analysis of economic...

economic forecasting, Prediction of future economic activity...

mortgage, In Anglo-American law, the method by which a debtor...

trust, In law, a relationship between parties in which one,...

employee training, or job training or occupational training...

foreign aid, Transfer of capital, goods, or services from one...