Basics
Production, distribution, and consumption of goods and services
Economics
Prices go down, this goes up
supply
What is stock
Share of a company
GDP stands for
Gross Domestic Product
Owned by one person
Proprietorship
In this system, government officials decide how to answer the four basic economic questions
Command system
Point where supply and demand meet.
Equilibrium point
Largest Stock Market
New York Stock exchange
What is GDP
the sum of the market values, or prices, of all final goods and services produced in an economy during a period of time
Owned by 2 or more equal people
Partnership
This group provides goods and services in exchange for money, labor, or land
Producers
Prices go down, this goes up
Demand
Type of stock that represents ownership in a company and claim dividends
A common stock
Formula for GDP
Consumption + Investment + Government spending + Net exports.
A large company owned by many people
corporation
Tasks performed by consumers
Services
People who concentrate on a certain area of work
Specialization
Type of stocks that represents ownership in a company but usually doesn't come with voting rights
Preferred stock
Nominal GDP
is the measure of GDP in current dollars
What is an entrepreneur
Someone who starts their own business
What is a monoply
a firm who is the sole seller of its product, and where there are no close substitutes
This term refers to an amount or quantity greater then what is needed.
Surplus
What does NASDAQ stand for
National Association of Securities Dealers Automated Quotation
Which GDP is usually higher
Real GDP
How do most companies starting out get money
Investors