Course glossary
During lectures you will learn new words. Using this link you are welcome to add them to our "course glossary", so that other students will be able to see them and learn. Let's make our own useful glossary and help each other to learn new words! By the way, there are already some worlds which should be familiar for you till the end of the course, try to cover them when you mill have free time.
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | ALL
R |
---|
Relative PriceThe price of any product or commodity measured relative to the overall level of prices (for example, compared to the consumer price index). | |
Retained EarningsBusiness profits which are not distributed to shareholders (through dividends or other payouts), but instead are retained within the company in order to finance future investment or other expenditures. | |
Return on EquityA measure of business profitability equal to net after-tax income divided by the average level of shareholders’ equity in the business. | |
S |
---|
Sales TaxA tax imposed as a proportion of consumer spending on specified goods or services. Also known as a “value-added” tax. | |
SavingThe portion of income which is not spent on consumption. Saving can be undertaken by individuals and households, by businesses, or by governments. | |
ServicesA form of output which consists of a function performed for one person by another – such as cooking and serving a meal, teaching a lecture, completing a telephone call, or delivering a package. Distinct from goods. | |
SharesFinancial assets which represent the ownership of a small proportion of the total equity (or net wealth) of a corporation. Shares can be bought and sold on a stock market. | |
Stock MarketA place where shares of joint stock corporations are bought and sold. Most modern stock markets no longer have a physical presence, but rather consist of connected computer networks. | |
SurplusAny agent or sector in the economy (household, business, or government) experiences a surplus when its income exceeds its expenditure. | |