FINALS REVIEWER Flashcards
involves with farming and farming-related commercial activities
AGRIBUSINESS
sale of merchandise from a one point of purchase directly to a consumer
Retail
Produces value that is primarily intangible
service
produces products from raw materials by the use of human labor or machinery
manufacturing
exchange of service and goods from one country to another
international trade
brought from the other countries
import
sold to buyers in another country
expost
combination of social and economic factors
socio- economic
job is
employment
higher rate of employment mean
higher purchasing power
employment is lower mean
few numbers of consumers will buy
knowledge, skill and understanding that one gets from attending school
education
amount of money a person earned
income
consumer spending depends on his/her available disposable income
income
cost of borrowing money
interest rates
when interest rates increase
more expensive for businesses to borrow money
interest rataes decrease
loans become cheaper
price of one country’s currency in term of another currency
exchange rates
prices of goods and service increase
inflation
