External Factors Flashcards
what are market forces
the actions of buyers and sellers that cause the prices of goods and services to change without being controlled by the government
what are regulatory changes
controls imposed on a company by an authority (usually the government) that generally restricts the “natural” direction in which the company is moving
what is a supply chain
the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product
what is corporate social responsibility
a company’s commitment to carry out its business in an ethical way
what is inflation
the rate of increase in prices over a given period of time
what are exchange rates
a relative price of one currency expressed in terms of another currency
what are interest rates
interest is the price you pay to borrow money
what is unemployment
a situation where a person actively searches for employment but is unable to find work
what are laws
a binding custom or practice of a community
what is economic upturn
a sustained period when economic output rises and employment rises.
what is economic downturn
a sustained period when economic output falls and unemployment rises.
what is a recession
when an economy –as measured by Gross Domestic Product or GDP (a measure of all the goods and services that a country produces) shrinks over two consecutive quarters, or six months.
what is a tariff
taxes imposed by one country on goods or services imported from another country
what is a barrier
something not material that keeps apart or makes progress difficult.
what are embargos
a government ban on trade, transport, or other commercial activity with a particular country.
