Economic Definitions

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Limit Pricing
Pricing to prevent competition: the practice of charging a lower price than one that will sustain normal profit as a method of deterring potential competitors from entering a market.
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Bottleneck
The point at which an industry or economic system has to slow its growth because one or more of its components cannot keep up with demand.
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Strategic Alliance
An arrangement between two companies that have decided to share resources to undertake a specific, mutually beneficial project.
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Monopsony
single-customer market: a situation in which a product or service is only bought and used by one customer
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Managerial Economies
Managerial economics is concerned with application of the economic concepts and economic analysis to the problems of formulating rational managerial decision.
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Satisficers
Satisficing is a decision making strategy that entails searching through the available alternatives until an acceptability threshold is met.
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Economic Cycle
ups and downs in economy: one of the regular increases in economic activity, with rising output and employment, followed by a decrease, with falling output and rising unemployment
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Stagflation
period of inflation and little growth: a period of rising prices and unemployment but little growth in consumer demand and business activity.
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Social Capital
An economic idea that refers to the connections between individuals and entities that can be economically valuable.
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Eurozone
Is an economic and monetary union.
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Card 2

Front

Bottleneck

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The point at which an industry or economic system has to slow its growth because one or more of its components cannot keep up with demand.

Card 3

Front

Strategic Alliance

Back

Preview of the front of card 3

Card 4

Front

Monopsony

Back

Preview of the front of card 4

Card 5

Front

Managerial Economies

Back

Preview of the front of card 5
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