Терминология 2 Flashcards
free enterprise
an economic system based on the private ownership of property, competition, and the profit motive
free market
a market that operates under condictions of perfect competition
free trade
the absence of any trade restrictions
full time
working all the normal working time
generic products
products sold without a trade mark or brand name
goods
tangible items of value
grants in aid
money given by the federal government to state and local governments for a specific purpose
import
good or service purchased from a seller in another country
income tax
a tax on the income earned by individuals and corporations
inflation
period of rising prices during which the purchasing power of the dollar is falling. An increase in the general price of consumer goods and services. What the Federal Reserve chairman is always trying to keep under control so it doesn’t harm the economy
infrastructure
the basic facilities, such as roads, harbors and utilities, on which the smooth operation of the economy depends
in-store promotion
promotion of a product inside a shop, by demonstrations, etc
insurance
protection against financial loss by sharing risks with others
internal funds
funds, such as profits, that come from within the firm
International Development Association (IDA)
agency of the World Bank that makes very long-term loans to the poorest of nations
