Question

In: Economics

My company I am researching for this project is Microsoft. Provide twelve business terms and definitions...

My company I am researching for this project is Microsoft.

Provide twelve business terms and definitions that are new to you that are used by this company. You should be using these terms throughout your project where they make sense.

Solutions

Expert Solution

Twelve business terms are as follows:

1. Business cycle

It refers to the businesses going through the different stages of the economy that comes one after the another and happens in a series. For example, recession is followed by recovery, expansion, boom and then, it is recession.

2. Bundled pricing

It is the pricing strategy that is used by the manufacturers to bundle different products together. It can be binding where consumers can buy it if and only if, he buys the bundle only.

3. Economy of scale

It means that increase in production takes place with a decrease in average total cost. This phenomenon is considered as economy of scale.

4. Marginal principles

It is the principle that analyzes the marginal benefits and cost. On the basis of marginal cost and profit, the right decision to consume, or produce is taken.

5. Entrapreneurship

It happens at the organization level where the organization within its setup, encourages individuals to take up innovative projects and work as entrepreneurs as organization provides different types of assistance to them.

6. Market share

It refers to the share owned by the company in the market. It shows that who is getting how much business in the market.

7. Anti-trust laws

These laws protect the market and ensure that free and fair competition is promoted and monopolization is prevented.

8. Private property rights

It is the rights owned by the private firms and individuals and they are encouraged to do so to maximize the profits.

9. Monopoly

It is the market structure that has only one producer with no close substitute in the market. Here, the monopolist earns positive economic profit in the short run and in the long run as well.

10. Fiscal policy

It is the policy that is applied by the government and it is related to government spending and taxation, used to create demand, employment and growth in the economy.

11. Market based economy

It is the economy that is driven by the market forces and government does not intervene in this economic setup. Here, role of the government is to moderate the market only, and demand and supply forces work to control the market.

12. Herfindahl Index

It is the index that is used to measure the market concentration. A higher value of index means higher level of market concentration and higher scope of monopolization in the market.


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