Podcast
Questions and Answers
The study of money and how it is used is called ______.
The study of money and how it is used is called ______.
finance
When a large amount of money is involved it's called ______ finance.
When a large amount of money is involved it's called ______ finance.
high
The study of how money is used and how it works is called ______.
The study of how money is used and how it works is called ______.
economics
A country's ______ shows how well the country is doing.
A country's ______ shows how well the country is doing.
If someone is not working they are considered to be ______.
If someone is not working they are considered to be ______.
The company aims to ______ the market by being the only one offering this product.
The company aims to ______ the market by being the only one offering this product.
Strong ______ among firms can lead to innovative solutions and better products.
Strong ______ among firms can lead to innovative solutions and better products.
Effective ______ within a team can lead to higher productivity and success.
Effective ______ within a team can lead to higher productivity and success.
The ______ stage of team development involves adjusting to each other's personalities and working styles.
The ______ stage of team development involves adjusting to each other's personalities and working styles.
A ______ position in the market allows a company to influence pricing and competition.
A ______ position in the market allows a company to influence pricing and competition.
A trade ______ occurs when a country exports more than it imports.
A trade ______ occurs when a country exports more than it imports.
If a country imports more than it exports, it experiences a trade ______.
If a country imports more than it exports, it experiences a trade ______.
The ______ is the total value of all goods and services produced within a country's borders.
The ______ is the total value of all goods and services produced within a country's borders.
When something rises very rapidly, it might be said to ______
When something rises very rapidly, it might be said to ______
To ______ means to reduce or decrease something.
To ______ means to reduce or decrease something.
When an economy is growing very slowly or not at all, this is called ______.
When an economy is growing very slowly or not at all, this is called ______.
A very bad recession is referred to as a ______.
A very bad recession is referred to as a ______.
When employees have more independence and are involved in decision making, this is called ______.
When employees have more independence and are involved in decision making, this is called ______.
When employees feel valued and have positive feelings about their work, there is high ______.
When employees feel valued and have positive feelings about their work, there is high ______.
A company can focus on a specific and small market by targeting a ______
A company can focus on a specific and small market by targeting a ______
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Study Notes
Financial Management
- Finance is the study of money
- High Finance involves large sums of money
- Economics is the study of money's use and workings
Economic Indicators
- Economic indicators show how well a country's economy is performing.
- Inflation is a sustained increase in the general price level of goods and services over a period.
- Inflation rate measures the rate at which prices are rising.
- Unemployment is the state of being unemployed.
- Balance of payments shows the difference between money flowing into and out of a country.
- Trade balance is the difference between a country's imports and exports.
- Trade surplus occurs when a country exports more than it imports.
- Trade deficit occurs when a country imports more than it exports.
Economic Output
- The gross domestic product (GDP) represents the total value of all goods and services produced within a country's borders.
- The gross national product (GNP) encompasses all production by residents of the country regardless of location.
- Growth rate describes the change in a particular economic indicator over time.
Economic Trends
- Going up: Advancement, jump, skyrocket, leap, soar, surge, increase
- Going down: Axe, cut, reduce, ease, plummet, slash, dive, level off, remain steady, reach a peak, bottom out
- Demand: Boom, stagnation, stagflation, recession, slump, depression
Motivation
- Motivation 1: Satisfaction, responsibility, (participative) decision-making, empowerment, valued, motivation, morale, job satisfaction, (supervision), discipline, (positive) relationships
- Motivation 2: Dissatisfaction, hygiene factors, supervision, policy, working conditions, salary, peer relationships, achievement, (positive) feedback, advancement, career ladder, personal growth
Vocabulary
- Size: big, considerable, enormous, gentle, hefty, huge, major, massive, moderate, modest, negligible, significant, sizable, slight, small
- Speed: fast, rapid, slow, sluggish, steady, swift
Business Strategy
- Companies and their industries: competitive forces, potential entrants, suppliers, buyers, substitutes, competitive strategy, to maintain competitive advantage, strengths, weaknesses, opportunities, threats, external factors, internal factors, cost leadership, volume industries, added-value focus(ed industries), niche
- Markets and competitors: penetrate, enter, abandon, get out of, leave, dominate, corner, monopolize, drive out, market growth, segmentation, share, leader, rivals, compete, key players, competition, intense competition
Competition
- Cut-throat competition is ruthless and harsh
- Competition can involve fierce, stiff, or encourage action.
- Competition may focus on specific products or services
- Some competitors are intense, ruthless, or impactful.
Teams
- Team focus on common goals involving individuals, teamwork, team building, commitment, leadership, effort, performance.
- Team players are responsible for specific actions (Implementation, coordination, sharpness, plant, resource investigator).
Team Stages
- Team stages include forming, storming, norming, performing, and mourning.
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