2.5 External Influences Flashcards
1
Q
Inflation
A
Sustained rise in the general price level of goods and services in an economy that indicates the cost of living
2
Q
Exchange Rates
A
Price of one currency in exchange for another
3
Q
Interest Rates
A
The cost of borrowing
4
Q
Business Cycle
A
Measurement of the fluctuations in GDP of an economy
5
Q
Monopoly
A
Business that has 25% or more of the industry’s sales
6
Q
Oligopoly
A
A market dominated by a few producers each having a degree of control over the market
7
Q
Legislation
A
Laws passed by the government that can affect a business
