Economical Terms

ECONOMICAL TERMES

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Term Budget

Definition

A summary of intended expenditures along with proposals for how to meet them. A budget can provide guidelines for managing future investments and expenses. Price The monetary or real value of a resource, commodity, or service Tax Is to impose a financial charge or other levy upon a taxpayer by a state or the functional equivalent of a state such that failure to pay is punishable by law. Monopoly A market situation in which a product that does not have close substitutes is being produced and sold by a single seller. Capital Wealth in the form of money or property owned by a person or business and human resources of economic value Deflation Deflation is a reduction in the level of o f national income and output, usually accompanied by a fall in the general price level. Balance of The difference in value over a period of time trade between a country's imports and exports. Fiscal Is the gap between the government's total deficit spending and the sum of its revenue receipts and non-debt capital receipts. Economic A statement of objectives and the methods of policy achieving these objectives (policy instruments) by government, political party, business concern, etc. Closed A closed economy is one in which there are no economy foreign trade transactions or any other form of economic contacts with the rest of the world. Opportunity Is the implied cost of not doing something that cost could have led to higher returns. Fiscal policy Is the use of government expenditure and taxation to try to influence the level of economic activity Free trade Free trade in which goods can be imported and exported without any barriers in the forms of tariffs, quotas, or other restrictions.

Source www.economywatch. com

www.economywatch. com www.economywatch. com

Equivalent in Romanian Buget

Pret Taxa

www.economywatch. com

Monopol


Capital


Deflatie


Balanta de schimb Deficit fiscal


Politica economica


Economie inchisa


Cost de oportunitate Politica fiscala


Piata libera

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Inflation

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Exports

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Fixed costs

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Is the percentage increase in the prices of goods and services. The value of all goods and nonfactor services sold to the rest of the world; they include merchandise, freight, insurance, travel, and other nonfactor services.

A cost incurred in the general operations of the business that is not directly attributable to the costs of producing goods and services. Imperfect A market where the theoretical assumptions of market perfect competition are violated by the existence of, for example, a small number of buyers and sellers, barriers to entry, nonhomogeneity of products, and incomplete information. Imperfect A market situation or structure in which competition producers have some degree of control over the price of their product. Market A phenomenon that results from the existence failure of market imperfections Perfect A market situation characterized by the competition existence of very many buyers and sellers of homogeneous goods or services with perfect knowledge and free entry so that no single buyer or seller can influence the price of the good or service. Indirect tax A tax you do not pay directly, but which is passed on to you by an increase in your expenses. Capital A plan of proposed capital outlays and the budget means of financing them for the current fiscal period. Monetary The regulation of the money supply and policy interest rates by a central bank in order to control inflation and stabilize currency. Market Prices established by demand and supply in a prices free-market economy. Assets Anything of monetary value that is owned by a person.


Inflatia Exporturi


Costuri fixe


Piata imperfecta


Competitie imperfecta


Piata Competitie perfecta


Taxa indirecta


Buget de capital

www.economywatch. Politica monetara com www.economywatch. com www.economywatch. com

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Economical Terms

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