definitions Flashcards
emerging market
countries gdp grows faster than average, potential to grow further India
migration
movement of a person one place to another, in and out for economic reason
monetary policy
control of interest rates and money supply to influence spending in economy
barrier to entry
factors making it difficult to enter markets, economies of scale
exchange rate appreciation
rise value of currencies to other
inflation
increase in price of goods, fall in purchasing power of money
expansionary economic policy
government action that stimulates increase in gdp, cut taxes
fiscal policy
use of taxation and gov spending to influence economy
cost push inflation
rise in prices due to increase costs
business cycle
fluctuation of gdp over time, boom, recession, slump, recovery
budget deficit
recipes less than government spending, low taxes help economy boost, demand increase
globalisation
growing trend towards worldwide markets unrestricted by barriers, increase integration of economies
oligopoly
market where industry is dominated by few firms, interdependent
pressure group
firm whose members have common cause for seek to influence political or corporate decisions to achieve objective
protectionism
impose restrictions on trade using tariffs
quantitative easing
increasing money supply by electronic money creation, bonds to reduce interest
quota
physical limit placed on imports of products
regulator
government empowers organisation that aims to empower law
self regulation
organisations monitors own observance of internal rather than external, not third party enforcing laws
short termism
pressure to deliver short term results to harm of long term goals
stakeholder concept
view that firms should aim to look after anyone impacted by a firm, help attain goals, long term profit due to care of stakeholders
tariff
tax imposed on imported products
urbanisation
country sides to cities
world trade organisation
international body that police’s international trade, encourages free trade
