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capital capital flight capital gain capitalism capital loss cartel certificates of deposit channels of distribution charge account checkable deposits check clearing checking account circular flow of economic activity circular flow of income civilian labor force closed shop closing costs club warehouse store coincident indicators collateral collective bargaining command economy commercial bank commodity money common stock communism comparative advantage comparison shopping previously manufactured goods used to make other goods and services (p. 6) the legal or illegal export of currency or money capital from a nation by that nation's leaders (p. 530) increase in value of an asset from the time it was bought to the time it was sold (p. 147) economic system in which private individuals own the factors of production (p. 41) decrease in value of an asset or bond from the time it was bought to the time it was sold (p. 147) arrangement among groups of industrial businesses, often in different countries, to reduce international competition by controlling the price, production, and distribution of goods (p. 245) time deposits that state the amount of the deposit, maturity, and rate of interest being paid (p. 143) routes by which goods are moved from producers to consumers (p. 302) credit extended to a consumer allowing the consumer to buy goods or services from a particular company and to pay for them later (p. 90) money deposited in a bank that can be withdrawn at any time by presenting a check (p. 389) method by which a check that has been deposited in one institution is transferred to the issuer's depository institution (p. 405) account in which deposited money can be withdrawn at any time by writing a check (p. 389) economic model that pictures income as flowing continuously between businesses and consumers (p. 37) same as circular flow of economic activity (p. 458) total number of people 16 years old or older who are either employed or actively seeking work (p. 313) company in which only union members could be hired (p. 324) fees involved in arranging for a mortgage or in transferring ownership of property (p. 123) store that carries a limited number of brands and items in large quantities; less expensive than supermarkets (p. 112) economic indicators that usually change at the same time as changes in overall business activity (p. 367) something of value that a borrower lets the lender claim if a loan is not repaid (p. 98) process by which unions and employers negotiate the conditions of employment (p. 328) system in which the government controls the factors of production and makes all decisions about their use (p. 34) bank whose main functions are to accept deposits, lend money, and transfer funds among banks, individuals, and businesses (p. 89) a medium of exchange such as cattle or gems that has value as a commodity or good aside from its value as money (p. 378) shares of ownership in a corporation that give stockholders voting rights and a portion of future profits (after holders of preferred stock are paid) (p. 223) term used by Karl Marx for his ideal society in which no government is necessary (p. 500) ability of a country to produce a product at a lower opportunity cost than another country (p. 476) getting information on the types and prices of products competition competitive advertising complementary good conglomerate consumer consumer-credit laws consumer goods consumerism consumer price index (CPI) consumer sovereignty contraction convenience store copyright corporate charter corporation cost-benefit analysis cost-of-living adjustment (COLA) cost-push inflation craft union credit credit bureau credit card credit check credit rating available from different stores and companies before purchasing a product (p. 69) rivalry among producers or sellers of similar goods and services to win more business (p. 44) advertising that attempts to persuade consumers that a product is different from and superior to any other (p. 68) a product often used with another product; as the price of the second product decreases, the demand for the first product increases (p. 181) large corporation made up of smaller corporations dealing in unrelated businesses (p. 250) any person or group that buys or uses goods and services to satisfy personal needs and wants (p. 59) laws passed to protect consumers by giving them access to their credit records (p. 578) goods produced for individuals and sold directly to the public to be used as they are (p. 277) movement to educate buyers about the purchases they make and to demand better and safer products from manufacturers (p. 72) measure of the change in price over time of a specific group of goods and services used by the average household (p. 351) the role of the consumer as ruler of the market when determining the types of goods and services produced (p. 290) part of the business cycle during which economic activity is slowing down, leading to a trough (p. 360) store open 16 to 24 hours a day, carrying a limited selection of relatively higher-priced items (p. 113) government protection that gives an author or artist the exclusive right to sell, publish, or reproduce their works for a specified number of years (p. 241) license to operate granted to a corporation by the state where it is established (p. 221) type of business organization owned by many people but treated by law as though it were a person; it can own property, pay taxes, make contracts, and so on (p. 220) a financial process in which a business estimates the cost of action and compares it with the benefits of that action (p. 265) union contract or other provision providing for an additional wage increase each year if the general level of prices in the economy rises beyond a certain level (p. 329) theory that the wage demands of labor unions and the excessive profit motive of large corporations push up prices, resulting in stagflation (p. 455) union made up of skilled workers in a specific trade or industry (p. 323) receipt of money either directly or indirectly to buy goods and services in the present with the promise to pay for them in the future (p. 83) private business that investigates a person to determine the risk involved in lending money to that person (p. 96) credit device that allows a person to make purchases at many kinds of stores, restaurants, and other businesses without paying cash (p. 91) investigation of a person's income, current debts, personal life, and past history of borrowing and repaying debts (p. 96) rating of the risk involved in lending money to a specific credit union cybernomics person or business (p. 96) depository institution owned and operated by its members to provide savings accounts and low-interest loans only to its members (p. 89) an economic system driven by Internet commerce (p. 566)