Key Economic Concepts and Business Terms
Classified in Economy
Written at on 
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Economic Fundamentals
Benefit: The difference between expenditure and revenue of an economic activity.
Right: An object that satisfies a need and has value.
Service: A provision intended to satisfy a personal or social need (not a production good).
Cost of Living: The minimum expenditure for essential goods and services. The Consumer Price Index (CPI) primarily measures its evolution.
Investment: The allocation of money to start, maintain, or improve a business for profit.
Market: The interaction of consumers demanding goods and services and producers offering them.
Production: The generation of goods and services through economic activity.
GDP: The total value of goods and services produced in a territory within a year.
Company: An entity engaged in the production of goods and services for economic benefit.
State: Establishes rules governing economic activity, provides subsidies and support, creates businesses in strategic sectors, offers public services, and generates employment.
Tax: A mandatory payment by individuals and businesses to a public body.
Stock Exchange: A financial institution for buying and selling shares.
Billing: The total value of products sold by a company.
Grant: Government financial aid to support economic activity.
Business and Labor Terms
Focus: Human activity is necessary to produce goods and services.
Indefinite Contract: A contract with no fixed duration.
Temporary Contract: A contract with a fixed term, where the employee is not entitled to severance pay.
Employers and Unions: Associations created to defend their interests.
Teleworking: Performing professional work outside the office, usually from home.
Demand: The quantity of a commodity or service desired for purchase at a given price.
Offer: The quantity of a good or service a producer wants to sell at a certain price.
Multinational: A company operating in multiple countries.
Global Economic Groups
BRIC
- Brazil
- Russia
- India
- China
Asian Dragons
- Hong Kong
- Singapore
- South Korea
- Taiwan