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  KEY TERMS
 

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Backstop resource
A renewable natural resource, which can be substituted in place of exhaustible resources.

Balance of payments
The difference between the payments received and payments made by an economy concerning international transactions

Balance sheet
A statement of accounts, showing the Net Worth of a firm. This is generally prepared at the end of a financial year with the details of assets, liabilities and profits & losses.

Bank panic
A situation of concern in the economic system due to failure of few banks leading to the failure of more in a spread-over effect.

Barriers to entry
rules and regulations which restrict the entry of a new player in the industry or a country.

Barter economy
An economy which trades not in monetary terms, but in exchange of other goods and services.

Bear market
A continued down trend or decline in the share prices in the stock markets

Bilateral monopoly
A market where there is a single seller and a single buyer.

Black market
A market where the goods sold are generally priced above the maximum retail price which is available in the market.

Bond
A loan taken upon with a fixed rate of interest during the tenure on the maturity of which, the principal amount will be paid.

Brand equity
The intangible value a brand creates for itself in the marketplace.

Broker
An agent who acts as a facilitator or representative of either parties (buyers and sellers) for a transaction.

Budget
A statement of accounts, where the allocation of scheduled expenses is displayed for a fixed income over a period of time.

Bull market
A stock market situation where the share prices of stocks are continually rising.

Business cycle
As a character of an industry or business, the regular alteration periods of boom and depression

Buyer's remorse
A state of mind of an individual post purchase, where he doubts if the purchase decision was right or wrong.

 

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