Competency 2.5 - evaluate the roles of government, central banking systems, and specialized institutions in market and command economies Flashcards

1
Q

monopoly

A

when a firm becomes the sole provider of a good or service with no competition

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2
Q

oligopoly

A

when a small group of firms are the sole provider of a service or good with no competition

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3
Q

stock

A

pieces of ownershif of a firm or company that is sold by them to increase investors

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4
Q

shareholders / stockholders

A

people who own stock

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5
Q

dividends

A

payments a shareholder recieves for owning stock for a firm or company

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6
Q

stock exchange

A

a place where public stocks are traded freely in an open market

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7
Q

stock market

A

the epitome of the market economy, a place where transactions take place exclusively for the purpose of making money

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8
Q

capital gain

A

the profit received from buying a stock at a lower price and then selling it a higher price

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9
Q

central bank

A

this institution exists in a market economy to oversee the ability of the banking system and conduct monetary policy in order to control inflation

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10
Q

corporations

A

compete with each other in a market economy for profit

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