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ECONOMICS TERMS-3 & BUSINESS CYCLE Flashcards | StudBud

Explore/ECONOMICS TERMS-3 & BUSINESS CYCLE

RAW MATERIALS

BUYING ON CREDIT

ECONOMICS TERMS-3 & BUSINESS CYCLE

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Questions 9

Answers

1
BUYING ON CREDIT
buying with money you don't yet have and have to pay back
buying with money you will never have
buying with money you are paid for your work
buying with money you have
2
RAW MATERIALS
finished products
new services
things that no longer work
things in the environment used to make things
3
WHOLESALE PRICES
the prices of things when the store goes out of business
the price you get when things are on sale
the prices that consumers pay for goods at stores
the prices that stores pay for goods from factories
4
CONSUMER
someone who produces things
something who loses things
someone who makes things
someone who buys things
5
RETAIL PRICES
the prices of things that businesses pay to factories
the prices of new stocks on the New York Stock Exchange
the prices of the latest raw materials
the prices people pay for goods they buy from stores after the markup
6
DISTRIBUTION AND MARKETING
making things in the factory
buying stocks on the stock market
shipping things to market and selling them
using raw materials
7
PRODUCER
businesses that create and offer nothing
businesses that go bankrupt
businesses that go out of business
businesses that create goods and services to sell
8
MANUFACTURING
making things in factories to sell
voting in elections
offering services for people
making new laws
9
TAXES
money paid to the government for government services
money saved by workers in bank accounts
money paid for new resources to make new products
money paid to private businesses so they can make more profit