Share Focus Mode


  1. 2. economy - Transactions in the underground economy are illegal either because the good or service being traded is illegal or because an otherwise licit transaction does not comply with government reporting requirements.
  2. 4. resources- It includes patents, copyrights, franchises, goodwill, trademarks, trade names, the general interpretation also includes software
  3. 7. - the effectiveness of productive effort, especially in industry, as measured in terms of the rate of output per unit of input.
  4. 9. is one of the three factors of production. The others are land, and labor.
  5. 13. resources - the resources used to make goods and services (i.e., natural resources, human resources and capital goods.
  6. 17. system- system that relies on customs, history and time-honored beliefs
  7. 18. land- land belonging to the British Crown. Land belonging to the state in some parts of the Commonwealth.
  8. 19. - political philosophy, movement, or regime that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition.
  9. 20. payments- payment made or income received in which no goods or services are being paid for, such as a benefit payment or subsidy.
  10. 22. for enterprise - The systems used within the organization. Generally refers to the primary architecture
  11. 26. a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
  12. 27. sovereignty - the situation in an economy where the desires and needs of consumers control the output of producers.
  13. 28. a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.
  14. 29. economy - an economic system combining private and public enterprise
  15. 30. –A country run by absolute authority in any sphere.
  16. 32. capital- already-produced, durable goods or any non-financial asset that is used in production of goods or services
  17. 34. debt - defined as how much a country owes to lenders outside of itself
  18. 35. recourses- include both fixed assets, such as machinery, buildings and land, and current assets, such as inventory.
  1. 1. enterprise- business or industry that is managed by independent companies or private individuals rather than by the state.
  2. 3. capital- is used simply to purchase goods and services for consumption; capital is more durable and is used to generate wealth through investment.
  3. 5. the activity of setting up a business or businesses, taking on financial risks in the hope of profit
  4. 6. - an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
  5. 8. of payment accounts - the record of all economic transactions between the residents of the country and of the world in a particular period
  6. 10. - the general level of prices in an economy going down.
  7. 11. - patriotic feeling, principles, or efforts
  8. 12. of production - is an economic term that describes the inputs that are used in the production of goods or services in order to make an economic profit.
  9. 14. - a system of government by the whole population or all the eligible members of a state, typically through elected representatives.
  10. 15. especially hard physical work.
  11. 16. added- the amount by which the value of an article is increased at each stage of its production, exclusive of initial costs.
  12. 21. materials- the basic material from which a product is made.
  13. 23. economy - economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's individual citizens and businesses.
  14. 24. economy - an economy in which production, investment, prices, and incomes are determined centrally by a government.
  15. 25. cashless economic system in which services and goods are traded at negotiated rates.
  16. 31. -a general increase in prices and fall in the purchasing value of money.
  17. 33. system- the means by which countries and governments distribute resources and trade goods and services. They are used to control the five factors of production, including: labor, capital, entrepreneurs, physical resources and information resources.
  18. 36. comprises all naturally occurring resources as well as geographic land. Examples include particular geographical locations, mineral deposits and forests