business vocabulary 2

External influences:
Bank rate: the interest rate set by MPC
Business cycle: regular pattern of upturns and downturns in demand and output.
Capacity: the maximum amount of products a company can produce in a period time
Competition policy: government’s approach to ensuring that competition is active enough to provide consumers with goods and services that are high quality and fairly priced.
Consumer durables: goods which for households use but can use it for a period of time or long time.
Consumer protection: a type of law to protect the right of customers
Cycle unemployment: the consequence of an economic downturn.
Deflation: it’s a period of falling demand and prices.
Ethics: decisions which we making should follow moral
Excess capacity: having more production potential than they will use in the future.
Exchange rate: the price of one country’s currency expressed in terms of another.
Inflation: a sustained rise in the average prices of goods within an economy.
Interest rates: percentage of cost of borrowing money.
Investment: use capital to make future returns.
Market: to describe the meeting place between customers and suppliers.
Market economy: economy which allows markets to determine the allocation of resources.
Monopoly: single producer control a market.
Oligopoly: a market which is demand more than supply.
Resistance to change: refuse to change, mistrust of the motives of proposing change, and worried about loss of job security.
Stakeholder: people who interest in an organisation’s performance. (e.g. employees shareholders, customers, suppliers, financiers and local community)
Structural unemployment: happens when there is a change in demand or technology which causes long-term unemployment.
Unfair competition: firm use methods that harmful to the interest of other producers and consumers.