Chapter 2 Key Termz
-A certificate representing a promise to pay a definite amount of money at a stated
interest rate on a specified due date.
B. Budget deficit
- Occurs when a government spends more than it takes in.
C. Budget surplus
Chapter 1 Key Terms
-The private ownership of resources by individuals, rather than by the government.
B. Command Economy
-An economy in which resources are owned and controlled by the government.
-A person who buys or uses goods
GDP- Gross domestic product (so basically the value of all goods and services produced in a
country in a year.)
GDP per Capita - GDP divided by the population
Russia's Recession Continues, GDP to
Shrink 1.5% in 2016 - ACRA Forecast
International Business in
Kyle Whitt and Anthony Madden
Located in Southeast Asia
Climate is cool and dry in winter and hot and humid in summer
Lots of hills and dense forest
On the shore of south China sea the Mekong river also runs thr
Chapter 1 Study Guide
1. A. New Shoes - A need when you absolutely need something to cover your feet but they
are a want whenever you buy s