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Ch 4 Marketing

Jeff Bright

Marketing Words

Scarcity Rising prices
Capital Roads, ports, utilities and telecommunications
Wholesale Measures change in wholesales prices
Depression Private ownership and free competition
Retail People who work in the economy
Entrepreneurship Selling government owned businesses to private firms
CPI Measures Goods and Services that are produced
Cost Many social services are provided by the government
Unemployment The cost of producing and shipping goods
Recession Money needed to start and operate a business
Labor Economy with little to no government involvement
Capitalism People willing to risk money and time to run a business
Inflation Period of economic slowdown
Command Economy where government controls production choices
Market The price that stores pay for goods
GDP The price that customers pay for goods
Privatization Rate that displays the % of people not working
Resources Difference between resources and needs plus wants
PPI All the things used in producing goods
Communism Measures the change in prices of goods
Infrastructure The way a nation makes economic choices
Land A prolonged recession
Economy Government contols all aspects of economy
Socialism Earth and everthing connect to it

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