1. OVERHEAD EXPENSE-The indirect costs or the costs not directly related to the manufacture of a product or delivery of a service that range from rent to administrative costs to marketing costs
2. OWNERS EQUITY-Total assets minus the total liabilities of a company or individual.
3. PRODUCTION COST-combined costs of raw material and labor gained in producing goods
4. WORKING CAPITAL-A measure of a company's efficiency and its short-term financial health.
5. LOAN-money lent at interest.
6. LOSS LEADER-Good or service advertised and sold below cost price.
7. SCARCITY-shortage of amount or supply.
8. OPPORTUNITY COSTS-The cost of an alternative that must be passed up in order to pursue a certain action.
9. EXPLICIT COSTS-A business expense easily identified.
10. IMPLICIT COSTS-A cost that is represented by a lost opportunity.
11. PRICE-the amount of money or its equivalent for which anything is bought, sold, or offered for sale.
12. RELATIVE PRICE-the ratio of two prices or the price of a good or service in terms of another.
13. INCENTIVES-motivation
14. PROFIT-financial benefit that is gained from financial activity
15. LOSS-the act of losing
16. EQUILIBRIUM-a state of balance
17. SURPLUS-the amount that remains when use is satisfied.
18. SHORTAGE-a lack in the amount needed
19. MINIMUM WAGE-the smallest amount that a person can be paid allowed by federal law.
20. PRICE FLOOR-floor below which prices are not allowed to fall
21. BEAR MARKET-a period in which prices fall
22. BULL MARKET-a period in which prices are rising or expected to rise.
23. BOOM- to develop rapidly
24. BILL OF EXCHANGE-A non-interest- bearing written order used primarily in international trade that binds one party to another
25. BUDGET DEFICIT- when they have more money going out then coming in
26. CAPITAL-cash generated by investing in a business
27. SHORT SELL-
28. SHORT COVER- repurchase a previously sold contract
