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Ch 4 Marketing

Jeff Bright

Marketing Words

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

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