L8 Flashcards
1
Q
What does competition mean?
A
The person or people with whom one is competing.
2
Q
What is a consumer?
A
A person who purchases goods and services for personal use.
3
Q
What does efficiency mean?
A
The ratio of useful work performed by a machine or person.
4
Q
What is a monopoly?
A
A company or group having exclusive control over a commodity or service.
5
Q
What is a mortgage?
A
A loan obtained through the conveyance of property as security.
6
Q
What is a stockholder?
A
An individual or institution that legally owns one or more shares of the share capital of a public or private corporation.
7
Q
What does volatility mean?
A
Liable to change rapidly and unpredictably.
8
Q
What does yield mean?
A
The amount of money brought in from interest from an investment.
