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men Square in 1989. Why do you think capitalism can grow in China under a restrictive government when in the former Soviet bloc it went hand in hand with political freedom? 9. Applying Economic Concepts Explain how life in the former Soviet bloc changed for each of the following during a transition to a market economy....
of the world. A. Magazine Article This article discusses some of the underlying reasons for China’s growing impact on the global economy. The Dragon Awakes China is changing the dynamics of the global economy. [China’s] contribution to global GDP growth since 2000 has been almost twice as large as that of the next thr...
make an appearance in much of the country. Corruption also remains well entrenched... [and] millions of workers have lost their jobs in the restructuring, prompting frequent protests.... Source: CBC News Online, April 20, 2005 Thinking Economically Will China’s economic growth alone increase the incomes of its poorest...
72 Chapter 18 CHAPTER 18 Assessment Definitions of Development (pp. 544–551) 1. What are some features of a developed nation? 2. Name five measures economists use to gauge a nation’s level of development. A Framework for Economic Development Objectives (pp. 552–561) 3. Describe the internal and external goals a develop...
the situation worsen? Work Toward Development Goals In 2005, all the 191 members of the United Nations voted to adopt the Millennium Development Goals, with a target date of 2015 to have the goals realized. Step 1 As a whole class, discuss the following eight goals that are part of this program: 1. Eradicate extreme p...
basics like food, clothing, and shelter. After those expenses are met, it can include optional items such as travel or entertainment. And with savings as part of your budget, you will be on the path to achieve your long-term ﬁ nancial goals. How Do I Set Up a Budget? Determine Your Income Make a list of all the steady...
�s left is available for ﬂ exible expenses like entertainment. Set Up a Spending Plan Now look at your income and expenses. Set out a plan for ﬁ xed expenses. Look at the amount left over and allocate it to cover the ﬂ exible expenses. If your ﬂ exible expenses are cutting into your savings or leading to debt, look for...
about fees, interest rates paid on the checking account, charges for printing checks, and any restrictions on the number or size of checks you write. Find out the bank’s minimum balance requirement, which is the amount of money you must keep in the account in order to avoid fees. Most banks charge a high fee for an ov...
enter your PIN. In either case, the money comes directly out of your account. Some stores let you get cash back—with no additional charge—when you make a purchase. For example, if you buy $20 worth of groceries, you can charge your ATM or debit card $50 and receive the $30 difference in cash. Register all the transact...
features vary by type of account. Some banks offer better rates than others, so it’s important to shop around for the best deal. Deposits in these accounts are insured by the government. If the bank should fail, the Federal Deposit Insurance Corporation (FDIC) would make sure you got your money back. The FDIC insures ...
Figure CPF 4 Risk and Return Determining Risk As you learned in Chapter 11, there is an inverse relationship between risk and return—the riskier the investment, the greater the potential return. Figure CPF 4 shows this relationship, with the least risky investments at the bottom of the graph and the riskiest ones at t...
allows you to choose different levels of risk. Figure CPF 5 Investment Options Stocks, Bonds, and Mutual Funds Employer-Sponsored Retirement Plans Individual Retirement Accounts (IRAs) • Stocks let you share in • 401(k) plans let workers corporate profits. • Government and corporate bonds pay a fixed rate of interest....
same pace for 45 years, the total balance would reach almost $1 million 25 30 35 40 45 50 55 60 65 Age Check It Out! ✔ Make regular contributions to your savings account. ✔ Commit to investing for the long term. ✔ Diversify your investments. The graph, Figure CPF 7, shows the beneﬁ ts of starting to save for retiremen...
have to pay them interest if you want to use their money to buy something. Loans are usually used for large purchases such as a home, automobile, or school tuition. Credit cards are like shortterm loans, because they allow you to buy things without having the cash at the time of purchase. But you will be charged inter...
can live within your means, which makes it more likely that you will be able to repay the loan. When you make car payments on time or pay off a department store charge card each month, you build a positive credit history. These actions show that you are ﬁ nancially responsible. Capacity refers to your level of income ...
to an index and likely to change frequently. Grace Period The grace period is the time between your billing date and the date your payment is due. Late payments may result in stiff fees. Minimum Payment The minimum payment may be a ﬂ at amount or a certain percentage of your balance. Paying this amount allows you to a...
______ BILLING STATEMENT a b CARD NUMBER CREDIT LIMIT AVAILABLE CREDIT STATEMENT DATE NEW BALANCE PAYMENT DUE MINIMUM PAYMENT DUE & 1234 5678 9012 3456 2,000.00 1,954.83 04/25/10 45.17 05/20/10 15.00 TRANSACTION REFERENCE NUMBER TRANSACTION DESCRIPTION TRANSACTION CHARGE DATE ACTUAL POST CHARGES (+) CREDITS (-) 0123 65...
cards charge an additional transaction fee. It is a very expensive way to get cash. Check It Out! ✔ Determine all costs and fees for a credit card or loan. ✔ Check your statement every month for unauthorized expenses. ✔ Pay on time. APPL IC ATION Types of Credit 1. What are the three Cs, and who uses them? 2. Determin...
com) Do not contact the three nationwide consumer credit reporting companies directly for free reports. Credit Report Users Lenders evaluate your credit report when you apply for a loan or a credit card. Buying the report from one of the three major companies saves them the time of contacting all your creditors to see ...
ﬁ rst steps for restoring your credit rating. • Talk to your creditors and explain your situation and your desire to correct it. • Cut up your credit cards and pay off your debts as soon as possible. • Create a strict budget and follow it. Professional Help If you are unable to resolve the problems yourself, see a pro...
� ng Identity thieves may watch you as you punch in a calling card or credit card number or your PIN. They might overhear you giving out an account number over the phone. Be conscious of those around you when you use an ATM or give out personal ﬁ nancial information. Dumpster Diving Thieves look through the trash to ﬁ ...
checks that have not cleared and change your ATM account and PIN number. Check It Out! Remember the word SCAM. ✔ Be Stingy. Only give personal information to people you trust. ✔ Check your bank and credit card statements regularly. ✔ Ask for your credit report every 12 months. ✔ Maintain careful records of all your ﬁ ...
off the lot. The biggest advantage new cars have is that they are covered by warranties. If something goes wrong, you probably won’t have to dip into your savings to pay repair bills. A used car will cost less but may be less reliable. Many experts suggest that cars that are two to three years old offer the best value...
Look for dealer ads in newspapers or on the Internet. • Find the vehicle identification number (VIN), and use it to research the car’s history through an Internet service. • Take a test drive. Test the air conditioner, heater, radio, and other equipment. • Pay a mechanic you trust to examine the car and to list what n...
? Choices include college, vocational school, and technical school. Costs at different types of schools vary widely and may inﬂ uence the type of education you choose. Generally, public colleges are less expensive than private ones, and community colleges are less expensive than four-year schools. Consider your career ...
school. All the costs of going to school can be daunting. Over 60 percent of students ﬁ nd that they need some ﬁ nancial help. In fact, most students pay much less than the published costs because of ﬁ nancial aid. There are three basic types of ﬁ nancial aid: grants and scholarships, loans, and work-study programs. F...
�s contribution. • Pool of aid dollars at the school you want to attend. Schools award aid based on a combination of federal, state, and school funds. A wealthy private school may have more funds available than a state school. • Number of students applying for aid at the school you want to attend. Since each school has...
is the result of your FAFSA application. Make sure all the information is accurate. Your SAR shows your Expected Family Contribution (EFC), which determines your eligibility for federal student aid based on need. Contact Schools’ Financial Aid Ofﬁ ces Make sure all schools you’ve applied to received all the informatio...
well. See Figure CPF 13 for an overview of the basic types of insurance. Most states require that you carry at least a minimum amount of car insurance in case of injury or property damage caused by your car. Premiums are based on the type of vehicle, your age, your driving record, and other related information. The mo...
premiums. • Are claims paid on actual cash value or on replacement value? The former may cost less, but you will receive less in the event of a loss. • How often are premiums due—monthly or once or twice per year? APPL IC ATION Getting Insurance 1. What reasons do people cite for getting insurance? 2. Selecting Insura...
the cancellation policy. Ask questions until you understand everything clearly. If there are parts you can’t ﬁ gure out, get advice from a friend before signing. Source: www.CartoonStock.com • Check all ﬁ gures in the contract. Bring a calculator and ﬁ gure the costs yourself—don’t depend on the salesperson’s math. • ...
what the agreement was. Business agreements are generally too complex for either side to remember all the details. • Don’t leave without getting a copy of the contract. Keep the contract in a safe place. Check your ﬁ rst bill carefully to make sure everything matches the contract. If you have questions, call the compa...
the country, and post a resumé. Newspaper Want Ads Your local newspaper is a good source for jobs in your area. Employment Agencies Your state and local governments may offer employment services. These public agencies often offer job counseling and training as well as job listings. Private agencies also offer job list...
of software applications • Led a workshop on Web page design d Other Skills • Proﬁ cient in a wide range of application software, including word processing, spreadsheet, database, and presentations • Internet research e Activities and Honors • Member of varsity girls’ track team • Captain of debate team References ava...
address, if they have one. It’s also a good idea to indicate the person’s position or relationship to you. The people you choose as references should know you well enough to be able to describe your skills, experiences, and work habits. Choose people who will be enthusiastic about your abilities based on their experie...
an ofﬁ ce job dressed in jeans and a T-shirt. Always appear neat, clean, and well groomed. Determine how long it will take to get to the interview. Plan to arrive about ten minutes early. Take weather conditions and trafﬁ c into consideration. If you are delayed, be sure to call and explain that you will be late. Brin...
your paycheck. You ﬁ ll out a W-4 form when you begin a job. As long as you are still dependent on your parents, you claim only one withholding allowance. The second determinant is your taxable income, which is the amount of income subject to taxation after all exemptions and deductions. The higher your income, the hi...
1040. These forms have related forms, known as schedules, for reporting investment income. Most state tax forms are simple because they are based on the results you obtain from ﬁ lling out your federal forms. The W-2 Form The W-2 form shows how much you earned during the year and how much you paid in taxes through wit...
you get the standard deduction but not the personal exemption. d The amount of tax withheld is found on your W-2 form along with earnings. e If you had more withheld than you owe in taxes, you will get money back in the form of a refund. If you didn’t have enough withheld, you will have to pay the amount you still owe...
least three years—the limit if the IRS wants to contest your return. Mistakes The IRS and state tax auditors usually catch simple math mistakes and inform you of them. They then recalculate your taxes and adjust the amount of your refund or taxes owed. If you discover a major error or omission on your form after you s...
they are irresponsible or have a lifestyle that clashes with your own. Think about how to balance the desire for privacy and your own space with the desire for companionship and help with household expenses and chores. If you decide to live with roommates, consider looking for an apartment together. That way, everyone...
responsible even if other roommates fail to pay their part of the rent. QUICK REFERENCE A lease is a contract for renting an apartment. A landlord is the owner of rental property & • You may be asked for the ﬁ rst and last months’ rent, a security deposit, and possibly cleaning and key fees. When you move out, the lan...
ating Compound Interest 1.6 Understanding Progressive Taxes 1.7 Creating Line Graphs 1.8 Creating Bar Graphs 1.9 Creating Pie Graphs 1.10 Creating a Database R2 R3 R4 R5 R6 R7 R8 R9 R10 R11 Math Handbook R1 1.1 Working with Decimals and Percents Understanding the Skill A decimal is a number that uses the base-ten value...
most common way is to divide the total by the number of values. This kind of average is called the mean. Mean, Median, and Mode Notice that, in Example 1, most workers earn much less than the mean of $27,000; the mean doesn’t describe typical earnings well. Typical earnings are often described better by the two other ...
as an equation. Replace “percent” with /100, “of” with, and “is” with =. Replace the unknown value with a variable, like x. Example 1: Sweden’s gross domestic product (GDP) is $255,400,000,000. Agriculture accounts for about $5,108,000,000 of the GDP. What percent of the GDP is from agriculture? Solution What percent ...
the same as 2:1 and “2 to 1.” 1 The ratio of Raul’s speed to Ben’s speed is 2 to 1. Ratios are sometimes written as decimals. For example, a company’s price-earnings ratio is the ratio of the price of a share of the company’s stock to the earnings per share. Example 2 Suppose a share of a company’s stock costs $54.75 ...
for one year? Example: If interest on $1,000 is compounded biannually with an interest rate of 5 percent, how much interest do you earn for each compounding period in the first year? Solution If interest is compounded biannually, that means it is calculated two times a year and each compounding period is a half of a y...
,125 is $713. Substitute numbers. Write 10 percent as a decimal. Multiply. Answer the question. Round to the nearest dollar. Example 2: Calculate tax in the 15 percent tax bracket on $7,550. Pay 10 percent on the first $7,550. Tax Tax rate x Income in bracket 10% $7,550 $755.00 Pay 15 percent on the rest of the income....
: Make a line graph showing the rate of inflation from 1970 to 1979. Find the largest rate in the table. It is 11.3.S. Inflation Rate 1 4 5 12 10 Year Applying the Skill Make a line graph to show the unemployment rate from 1993 to 2002. Unemployment Rate (in percent) 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 6....
easy to see how each GDP contributes to the world’s total GDP. The example shows how to make the pie graph. GDP (trillions of U. S. dollars) and Population (millions of people) of Various Countries and the European Union Country GDP Population Country GDP Population United States European Union China Japan India Brazi...
296 people A B C D E F G 1 Divide row 2 by row 3. Put the answer in row 4. 2 Sort the whole database by row 4, from largest to smallest. 1 2 3 4 Oil Consumption (millions of barrels per day) Population (millions of people) Per capita oil consumption (barrels/person/day) United States Canada Japan European Union Russia...
R22 R23 R24 R25 R26 R27 R28 R29 R30 R31 R12 Skillbuilder Handbook.1 Explaining an Economic Concept EXPLAINING ECONOMIC CONCEPTS involves clarifying and communicating the basic ideas of economics. Some of these concepts are simple, while others are complex. Three basic steps will help you develop an explanation of a co...
the data is organized. Here, data in each horizontal row provides information on a category of food expenditure. Each vertical column shows expenditures by food category for one of five metropolitan areas. 3 Ask what kinds of questions may be answered from the data. Answering such questions helps in the analysis and i...
remain ample.... OPEC maintains about 2 million barrels a day of spare capacity, and stocks are high elsewhere; the U.S. Department of Energy said last week that inventories have hit their highest 1 levels since 1998.... 2 The possibility that [British Petroleum] could restore 180,000 barrels per day of lost Alaskan p...
and sketch an idea of your model. The creator of this economic model used a circular diagram to convey the relationships between economic markets and economic actors. 3 Think of symbols you may want to use. Here, different colored arrows indicate the flow of money and the flow of resources and products. The Circular F...
udliszki, a Polish firm owned by Heinz, was faced with a decision. Should the company introduce full-course microwaveable meals into Poland’s market for convenience foods? Poland’s accession into the European Union promised to have a positive effect on both employment and disposable income. And with Polish workers aver...
beneath it summarizes the trade-offs in the project. 1 Identify the decision that is being made. The article notes that the Hong Kong government signed an agreement with a large private company to construct a new business. 2 Note the potential benefits of the decision. Here, government officials provide estimates of t...
Huge initial outlay by the government; about half the jobs created are short-term. Analysis: Too soon to tell, but the fact that potential audience for the park are of modest means does not guarantee success.7 Comparing and Contrasting Economic Information Economists compare and contrast economic programs, concepts, a...
oval, list characteristics unique to the second subject. Applying the Skill Turn to Chapter 8 and read Sections 1 and 2, pages 226–235. Construct a Venn diagram comparing and contrasting sole proprietorships and partnerships. Chile Only Program requirement: mandatory Investment choices: limited Both Problem: pension s...
with the first cause in a series, fill in the boxes until you reach the end result. Cause Effect / Cause Effect / Cause Effect / Cause Effect Many of India’s college graduates speak English. Outsourcing industry enjoys success. • Pay improves for entry-level jobs. • On-the-job stress increases. • Workers change jobs o...
by 39 percent in 2004. Excluding oil and other petroleum products, the trade deficit would have grown 10 percent, to $537 billion. Source: “The U.S. Trade Deficit Hit Record High in 2005” by Vikas Bajaj. The New York Times, February 10, 2006 Applying the Skill Read the online news story “China’s Economic Miracle; the ...
ads, to introduce his product? Or should he try something bolder? 1 Sillett decided to risk most of his marketing budget on a single idea: the sponsorship of two English heavy hitters—Andrew Flintoff and Kevin Pietersen. Sillett’s idea proved to be a winner. 2 In just three years, Woodworm bats succeeded in capturing ...
people who own Enron stock. 2 In December 2000, Enron claimed to have tripled its profits in two years. 2 The collapse began in October [2001], when Enron announced a loss of $638 million. In November, Enron said that it had overstated earnings for the past four years and it now owed over $6 billion. With these announ...
dependent pensions... are not gifts from charity. They are for compensation well earned.” —Flyer attached to a letter written to President Franklin D. Roosevelt by a woman asking for help for her 81-year-old mother 1 “It is estimated that the population of the age of 60 and above in the United States is somewhere betw...
proclaiming a bank holiday. 2 Congress 1 chose to pass a law in support of Roosevelt’s decision. The law also provided for the rehabilitation of the nation’s banking facilities. To avoid an epidemic of bank failures, 3 it was decided not to reopen all the banks at the same time. Instead, banks would open once they had...
The globe stands for Earth and its resources. The people represent consumers. 3 Analyze the visual details, which help express the artist’s point of view. The Western-style house and clothing suggest that the people are Americans or Europeans. The people are smiling, indicating that they are happy about what is being ...
for families. The architect of the report, economist Sir William Beveridge, drew on advice from various government departments. 2 He found provision for old age represented one of the most pressing problems. But there were other failings too. Medical provision was not universally available to all and Britain’s achieve...
. Click on any one of the images or topics to find out more about a specific subject. These links take you to other pages at this Web site. Some links take you to related information that can be found at other places on the Internet. 3 Evaluate the Web site. Use the information you gathered in Step 2 to evaluate the We...
a summary paragraph to show what you have learned from the graph. 4 Each year from 1994 to 2005, about 600,000 new firms opened in the United States. During the same time period, anywhere from 500,000 to about 575,000 firms closed. In 2001, there actually were more firm closures than new firms opened. The overall tren...
. The unemployment rate fluctuated between 4.6 and 4.8 percent. There was an increase in the number of jobs each month, with the greatest increase occurring in June and the smallest in May. Average hourly earnings rose fairly steadily from $16.47 in February to $16.76 July. Applying the Skill Turn to page 79 and study ...
Oil Reserves (Billions of bbl1) 2 United States 20.0 1 European Union2 14.6 China Russia Saudi Arabia Iran 6.4 2.8 1.8 1.4 7.6 3.4 3.5 9.1 9.5 4.0 22.5 7.3 18.3 69.0 262.7 133.3 4 Footnotes: (1) Barrels (2) For data presentation, treated as a single country 5 Source: The CIA World Factbook, 2005 data Analyze the Datab...
than it spends (p. 462) automated teller machine (ATM) n. an electronic device that allows bank customers to make transactions without seeing a bank ofﬁ cer (p. 308) automatic stabilizer n. a feature of ﬁ scal policy that works automatically to steady the economy (p. 447) B balanced budget n. a budget in which total g...
factors of production (p. 49) capital market n. a market in which long-term ﬁ nancial assets are bought and sold (p. 322) cartel n. a formal organization of sellers or producers who regulate the production, pricing, and marketing of a product (pp. 198, 535) cease and desist order n. a ruling requiring a ﬁ rm to stop a...
buy what they want and refuse products they do not want (p. 50) contingent employment n. temporary or part-time work (p. 270) contract n. a formal, legally binding agreement (p. 598) claim n. a request to an insurance company for payment on an insured loss (p. 596) contraction n. a decrease in economic activity (p. 35...
analysis n. the practice of examining the costs and the expected beneﬁ ts of a choice as an aid to decision making (p. 15) competition n. the effort of two or more people acting independently to get business by offering the best deal (p. 49) cost-push inﬂ ation n. a situation in which increases in production costs pus...
. 462) deﬂ ation n. a decrease in the general price level (p. 398) demand n. the desire to have some good or service and the ability to pay for it (p. 98) demand curve n. a graph that shows a demand schedule, or how much of a good or service an individual is willing and able to purchase at each price (p. 102) demand-pu...
the company pays the stockholders (p. 238) R34 Glossary G l o s s a r y dumping n. the sale of a product in another country at a price lower than that charged in the home market (p. 521) estate tax n. a tax on the assets of a person who has died (p. 425) Dumpster diving n. technique used by identity thieves to gather ...
n. the wage at which the quantity of workers demanded equals the quantity of workers supplied; the market price for labor (p. 258) European Union (EU) n. the economic and political union of European nations that was established in 1993 (p. 532) euro n. the single currency of the European Union (p. 533) excise tax n. a...
funds in ﬁ nancial assets (p. 319) ﬁ nancial market n. a situation in which buyers and sellers exchange ﬁ nancial assets (p. 319) full employment n. a level of unemployment in which none of the unemployment is caused by decreased economic activity; generally marked by an unemployment rate of 4 to 6 percent (p. 383) ﬁ ...
. 532) future n. a contract to buy or sell a stock on a speciﬁ ed future date at a preset price (p. 333) G general partnership n. a partnership in which each partner shares the management of the business and is liable for all business debts and losses (p. 233) geographic monopoly n. a monopoly that exists because there...
excess of 50 percent (p. 398) I identity theft n. the use of someone else’s personal information for criminal purposes (p. 588) imperfect competition n. a market structure that lacks one or more of the conditions needed for perfect competition (p. 195) imports n. goods or services produced in one country and purchased...
establishing operations in, and therefore bringing jobs to, the United States (p. 269) interest n. a fee a bank pays for the use of money (p. 578) International Monetary Fund (IMF) n. the international organization established to promote international monetary cooperation, foster economic growth, and provide temporary...
marginal beneﬁ t from using each additional unit of a good or service during a given time period tends to decline as each is used (p. 106) law of increasing opportunity costs n. states that as production switches from one product to another, increasingly more resources are needed to increase the production of the seco...
each additional unit sold (p. 142) market n. any place or situation in which people buy and sell goods and services (p. 48) market allocation n. an agreement among or between competing businesses to divide up a market (p. 216) market demand curve n. a graph that shows data from a market demand schedule, or how much of...
in a market are willing and able to offer for sale at each price (p. 132) maturity n. the date when a bond is due to be repaid (p. 338) multifactor productivity n. the ratio between an industry’s economic output and its labor and capital inputs (p. 372) multinational corporation n. a corporation with branches in sever...
economy using statistical measures of its income, spending, and output (p. 350) nationalize v. to change from private ownership to government or public ownership (p. 61) natural monopoly n. a market situation in which the costs of production are lowest when only one ﬁ rm supplies a product or service (p. 201) near mon...
the money supply (p. 490) open opportunity n. the ability of everyone to enter and compete in the market of his or her own free choice (p. 73) operating budget n. a plan for day-to-day expenses (p. 436) opportunity cost n. the value of something that is given up by choosing one alternative over another (p. 14) option ...
income and resources do not allow him or her to achieve a minimum standard of living (p. 388) poverty line see poverty threshold poverty rate n. the percentage of people living in households that have incomes below the poverty threshold (p. 389) poverty threshold n. the ofﬁ cial minimum income needed to pay for the ba...
price index (PPI) n. a measure of changes in wholesale prices (p. 397) product differentiation n. the attempt to distinguish a product from similar products (p. 206) product market n. the market in which goods and services are bought and sold (p. 52) production possibilities curve (PPC) n. a graph used to illustrate t...
real gross domestic product divided by total population (p. 369) recession n. a prolonged economic contraction lasting two or more quarters (six months or more) (p. 359) regressive tax n. a tax that takes a larger percentage of income from low-income earners than from high-income earners (p. 412) Glossary R41 regulati...
n. technique used by identity thieves to gather personal information as you disclose private information in public (p. 588) spamming n. technique used by identity thieves to gather personal information through deceptive e-mails (p. 588) special economic zone (SEZ) n. a geographic region that has economic laws that are...
age used to gain negotiating power while attempting to convince an employer to improve wages, working conditions, or other work-related matters (p. 274) structural unemployment n. unemployment that exists when the available jobs do not match the skills of available workers (p. 384) subsidy n. a government payment that ...
p. 270) telework see telecommuting temp, temps, temping see contingent employment thrift institution n. a ﬁ nancial institution that serves savers (p. 478) tight-money policy see contractionary monetary policy total cost n. the sum of ﬁ xed and variable costs (p. 140) total revenue n. the income a business receives fro...
in turn result in higher prices, which result in demands for even higher wages (p. 400) wage rate n. the established rate of pay for a speciﬁ c job or work performed (p. 261) wages n. the payments workers receive in return for work (p. 258) wants n. desires that can be satisﬁ ed by consuming a good or service (p. 4) w...
change in price and quantity demanded are the same (p. 118) unlimited liability n. a situation in which a business owner is responsible for all the losses and debts of a business (p. 228) unlimited life n. a situation in which a corporation continues to exist even after a change in ownership (p. 240) user fee n. money...
economía (pág. 447) B balanced budget [presupuesto balanceado] n. presupuesto en el que el total de ingresos del gobierno es igual al total de gastos del gobierno (pág. 436) balance of payments [balanza de pagos] n. registro de todas las transacciones ocurridas entre las personas, las empresas y las unidades gubername...
adores] n. junta de siete miembros nombrados que supervisa las operaciones del Sistema de la Reserva Federal y establece la política monetaria (pág. 476) bond [bono] n. contrato emitido por una sociedad anónima que promete reembolsar el dinero prestado, más intereses, según las fechas establecidas (pág. 240) bounced ch...
crean y utilizan para producir y distribuir bienes y servicios (pág. 8) capital budget [presupuesto de capital] n. plan referente a los principales gastos o inversiones (pág. 436) capital deepening [intensiﬁ cación del uso del capital] n. aumento de la razón entre el capital y el trabajo (pág. 371) capital ﬂ ight [fug...
ores a comprar una cantidad diferente de un bien o de un servicio a cada precio (pág. 109) change in quantity demanded [cambio en la cantidad demandada] n. cambio en la cantidad de un producto que los consumidores comprarán debido a un cambio en el precio (pág. 108) change in quantity supplied [cambio en la cantidad of...
generalmente cambian al mismo tiempo que cambia el producto interior bruto real (pág. 364) collective bargaining [negociación colectiva] n. proceso de negociación entre una empresa y sus empleados sindicalizados para establecer los salarios y mejorar las condiciones de trabajo (pág. 280) command economy [economía auto...

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