Card 1
Term
Supply and Demand
Definition
Economic model of price determination
Card 2
Term
Inflation
Definition
General increase in prices and fall in purchasing value
Card 3
Term
GDP
Definition
Gross Domestic Product - total value of goods produced
Card 4
Term
Monopoly
Definition
Market with a single seller
Card 5
Term
Opportunity Cost
Definition
Cost of forgoing the next best alternative
Card 6
Term
Compound Interest
Definition
Interest calculated on initial principal and accumulated interest
Card 7
Term
Stock Market
Definition
Market for buying and selling company shares
Card 8
Term
Entrepreneur
Definition
Person who starts a business venture
Card 9
Term
Marketing
Definition
Process of promoting and selling products
Card 10
Term
Business Plan
Definition
Document outlining business goals and strategies