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economics (economic peformance (GDP (Gross Domestic Product (GDP) is the…
economics
economic peformance
GDP
Gross Domestic Product (GDP) is the broadest quantitative measure of a nation's total economic activity. More specifically, GDP represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.
PPF
A production possibility frontier (PPF) shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently employed. Opportunity Cost and the PPF. Reallocating scarce resources from one product to another involves an opportunity cost.
inflation
Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. Central banks attempt to limit inflation — and avoid deflation — in order to keep the economy running smoothly.
unemployment
Unemployment is defined as a situation where someone of working age is not able to get a job but would like to be in full-time employment.
intrest rates
Interest rate is the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets. Interest rates are typically noted on an annual basis, known as the annual percentage rate (APR).
intro to economics
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factors of production
land, labor, capital and enterprise
demand and suply
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non price factor= shift in the curve, (left is less)
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financial decisions
internal factors
price, marketing stratagies, finance
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