Economy of Kazakhstan ECN3189 L, Mussurov Altay

a qualitative method for analyzing the impact of a proposed action on the economy. A model permits testing the effects of an anticipated or hypothetical change.

a method of classifying all productive activity into two categories: basic industries which produce and sell goods that bring in new income from outside the area and service industries which produce and sell goods that simply circulate exiting income in the area.

a comprehensive study of a locality’s economy, focusing on the importance of exports. It should include an economic history, data on existing industries, trends, and forecasts of growth in wages and employment.

the phenomenon of production where the average cost of production declines as more of the product is produced.

a newly emerged city that serves as a work and shopping center, with a large amount of office and retail space.

the authority to “take” private property upon paying a fair price for the property and relocating the tenants. The most frequent use of this authority is the act of “condemnation.”

assistance to entrepreneurs in support of the creation, growth, and survival of their businesses.

state enterprise zones are designated geographic areas that are eligible for special treatment and incentives to attract private investment. State guidelines define the size of a zone and the minimum level of economic distress to qualify as an enterprise zone. States can also limit the number and type of enterprise zones. These restrictions are generally set out in the state enterprise zone program.

programs that provide guidance and instruction on business basics such as accounting and financing to ensure that new businesses improve their chance of success. The most common training methods include classroom training, workshops, speakers, peer groups and one-on-one counseling, lectures, internships, as well as self-study and home-study.

investments are typically secured in this type of financial support in return for partial ownership of an enterprise; three mechanisms can be used for receiving an equity position in a firm: common stock, preferred stock, and convertible debt.