Definitions
Abuses
Incorect or imporper uses, wrongs.
Acquisitions
Takeover; one company buys out/takes over control of another company.
ABPI
The Association of the British Pharamaceutical Industry.
AFL-CIO
American Federation of Labour and Congress of Industrial Organisations.
AMEX
American Stock Exchange
Boroughs
US:
1) A self-governing incorporated town in some U.S. states, such as New Jersey.
2) One of the five administrative units of New York City.
3) A civil division of the state of Alaska that is the equivalent of a county in most other U.S. states
Britain:
1) A town having a municipal corporation and certain rights, such as self-government.
2) A town that sends a representative to Parliament.
BSE
Mad cod disease
By-Elections
Elections held to replace MPs who have died, resigned or been promoted to the House of Lords. (Br).
CBI
Confederation of British Industry
Chancellor of the Exchequer
Britisk finansminister
CEO
Cief Excecutive Officer
Coalition
Two parties or more form a government together.
Commodity exchange
An exchange for buying and selling commodities for future delivery [syn: commodities exchange, commodities market]
Concensus
General agreement.
Consituency
Voting district (Br).
Corporation
Company
Crash
A sudden and severe fall in prices on the stock exchange.
Consumption
The amout of money people spend on goods in everyday use.
Depression
A long period of very low economic activity and extremely high uneployment.
Economic growth*
Increase in the national income of a country (which is the total value of all the goods and services produced in that county in a particular year)
Electorate
The group people who are entitled to vote.
Fed, the
The Federal Reserve System
Federal
National/central
Federal Reserve System, the
The central bank of the USA. Conducts the nation's monetary policy.
First-Past-the-Post
Simple majority in elections (Br).
General Election
British parlimentary elections. (Held on Thursdays).
GDP
Gross domestic product (BNP)
Government intervention/interference
Action by a goverment to influence the economic system.
Industry
Means not only 'industri', but also 'næring, næringsvei'.
Inflation
A rise in the general level of prices. Money worth less.
Interest Rate*
The cost or price of borrowing money.
Keynes, John Maybard
Br. economist. Idea: government has power and duty to keep employment at the highest level possible. Public spending, regulation taxes. -> Keynesuan Revolution.
Managed economy
The government interferes in and to some extent controls the country's economy.
Market Forces
The forces of supply and demand: prices are dependent on how available goods are and people's interest in buying.
Merger
The combination of two or more companies.
Mixed economy
An economic system with both a private and a public sector.
Monopoly
he situation in a market when there is only one seller of a product (thus no competition) or when one business is so big that it controls the market price.
MP
Member of Parliament (Br).
NASDAQ
National Association of Securities Dealers Automated Quotation System.
Nationalise
State takes over ownership: to change from private to state control.
NYSE
New York Stock Exchange
Party Politics
Ongoings inside political institutions/organizations in power and resource struggles.
Primary Sector
Agriculture, mining, fisheries, forestry, offshore oil etc.
Privatisation
Selling a nationalised industry, transfer of ownership to the private sector.
Politics
Broad sense: how power and resources are divided among different groups in society.
Public Spending/expenditure
Money spent by the government on the needs of the countym such as common (public) services, the building of roads, the running of schools, hospitals etc.
Recession
Period of economic decline, temporary reduction in business activity.
Reagonomics
Term used to describe President Ronald Reagan's policy of supply-side ecomomics, especially with regards to tax cuts. The theory states that supply creates demand and that low tax rates stimuate the market and thereby stabilise the economy.
Revenues*
Income.
Royal Assent
The Queen of England must sign bills from the Houses.
Secondary Sector
Manufacturing and construction industires, e.g. steel production, oil-refining, engineering, shipbuilding, high-tech and chemical inustries.
Shares
Securities representing parts of the capital of a company.
Smith, Adam
18th century, Scottish economist and Philosopher. An Inquiry into the Nature and Causes of the Wealth of Nations. Advantages of division of labour (specialisation). Argued that free and competetive economy without government unterference us the most efficient economic system because it appeals to man's natural self-intrest.
Specialisation
Division of labour.
Stimulate the economy
Support, help, boost the economy.
Stocks (AmE)
See: shares.
Subsidies
Money given by the government to certain producerts to help them produce goods and services needed by the public without loss to themselves.
Tariffs
Import duties/taxes.
Tory
Nickname for the British Consertavite Party
Trade Unions
Associations of employsees formed to improve their incomes and working conditions by collective bargain with the employer or employer's association.
Tetriary Sector
All kinds of services, e.g. tourism, trade, communication, bankig, insurance, and financial services.
Trusts
A group of business corporations combined to control the market for one product, a form of monopoly.
UnemploymentThe number of people who have no job. (unemployment rate)
VAT
Value Added Tax ('moms')
Wall Street
New York Stock Exchange
WASP
White Anglosaxon Protestants
Westminister
British Parliament (House of Lords, House of Commons, Selected Committees)
Whighs
Nickame for the British Liberal Party.
Whitehall
Brithish Government (Prime Minister, Cabinet, Ministers, Departments, Civil Service)
WTO
World Trade Organization
Yuppies
Young urban professionals.
Incorect or imporper uses, wrongs.
Acquisitions
Takeover; one company buys out/takes over control of another company.
ABPI
The Association of the British Pharamaceutical Industry.
AFL-CIO
American Federation of Labour and Congress of Industrial Organisations.
AMEX
American Stock Exchange
Boroughs
US:
1) A self-governing incorporated town in some U.S. states, such as New Jersey.
2) One of the five administrative units of New York City.
3) A civil division of the state of Alaska that is the equivalent of a county in most other U.S. states
Britain:
1) A town having a municipal corporation and certain rights, such as self-government.
2) A town that sends a representative to Parliament.
BSE
Mad cod disease
By-Elections
Elections held to replace MPs who have died, resigned or been promoted to the House of Lords. (Br).
CBI
Confederation of British Industry
Chancellor of the Exchequer
Britisk finansminister
CEO
Cief Excecutive Officer
Coalition
Two parties or more form a government together.
Commodity exchange
An exchange for buying and selling commodities for future delivery [syn: commodities exchange, commodities market]
Concensus
General agreement.
Consituency
Voting district (Br).
Corporation
Company
Crash
A sudden and severe fall in prices on the stock exchange.
Consumption
The amout of money people spend on goods in everyday use.
Depression
A long period of very low economic activity and extremely high uneployment.
Economic growth*
Increase in the national income of a country (which is the total value of all the goods and services produced in that county in a particular year)
Electorate
The group people who are entitled to vote.
Fed, the
The Federal Reserve System
Federal
National/central
Federal Reserve System, the
The central bank of the USA. Conducts the nation's monetary policy.
First-Past-the-Post
Simple majority in elections (Br).
General Election
British parlimentary elections. (Held on Thursdays).
GDP
Gross domestic product (BNP)
Government intervention/interference
Action by a goverment to influence the economic system.
Industry
Means not only 'industri', but also 'næring, næringsvei'.
Inflation
A rise in the general level of prices. Money worth less.
Interest Rate*
The cost or price of borrowing money.
Keynes, John Maybard
Br. economist. Idea: government has power and duty to keep employment at the highest level possible. Public spending, regulation taxes. -> Keynesuan Revolution.
Managed economy
The government interferes in and to some extent controls the country's economy.
Market Forces
The forces of supply and demand: prices are dependent on how available goods are and people's interest in buying.
Merger
The combination of two or more companies.
Mixed economy
An economic system with both a private and a public sector.
Monopoly
he situation in a market when there is only one seller of a product (thus no competition) or when one business is so big that it controls the market price.
MP
Member of Parliament (Br).
NASDAQ
National Association of Securities Dealers Automated Quotation System.
Nationalise
State takes over ownership: to change from private to state control.
NYSE
New York Stock Exchange
Party Politics
Ongoings inside political institutions/organizations in power and resource struggles.
Primary Sector
Agriculture, mining, fisheries, forestry, offshore oil etc.
Privatisation
Selling a nationalised industry, transfer of ownership to the private sector.
Politics
Broad sense: how power and resources are divided among different groups in society.
Public Spending/expenditure
Money spent by the government on the needs of the countym such as common (public) services, the building of roads, the running of schools, hospitals etc.
Recession
Period of economic decline, temporary reduction in business activity.
Reagonomics
Term used to describe President Ronald Reagan's policy of supply-side ecomomics, especially with regards to tax cuts. The theory states that supply creates demand and that low tax rates stimuate the market and thereby stabilise the economy.
Revenues*
Income.
Royal Assent
The Queen of England must sign bills from the Houses.
Secondary Sector
Manufacturing and construction industires, e.g. steel production, oil-refining, engineering, shipbuilding, high-tech and chemical inustries.
Shares
Securities representing parts of the capital of a company.
Smith, Adam
18th century, Scottish economist and Philosopher. An Inquiry into the Nature and Causes of the Wealth of Nations. Advantages of division of labour (specialisation). Argued that free and competetive economy without government unterference us the most efficient economic system because it appeals to man's natural self-intrest.
Specialisation
Division of labour.
Stimulate the economy
Support, help, boost the economy.
Stocks (AmE)
See: shares.
Subsidies
Money given by the government to certain producerts to help them produce goods and services needed by the public without loss to themselves.
Tariffs
Import duties/taxes.
Tory
Nickname for the British Consertavite Party
Trade Unions
Associations of employsees formed to improve their incomes and working conditions by collective bargain with the employer or employer's association.
Tetriary Sector
All kinds of services, e.g. tourism, trade, communication, bankig, insurance, and financial services.
Trusts
A group of business corporations combined to control the market for one product, a form of monopoly.
UnemploymentThe number of people who have no job. (unemployment rate)
VAT
Value Added Tax ('moms')
Wall Street
New York Stock Exchange
WASP
White Anglosaxon Protestants
Westminister
British Parliament (House of Lords, House of Commons, Selected Committees)
Whighs
Nickame for the British Liberal Party.
Whitehall
Brithish Government (Prime Minister, Cabinet, Ministers, Departments, Civil Service)
WTO
World Trade Organization
Yuppies
Young urban professionals.