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Eco Glossary
Textbook 1
| Term | Definition |
|---|---|
| Ageing of a population | an increase in the median age of the population resulting from a fall in the death rate and/or a fall in the birth rate |
| All Ordinaries Index (All Ord) | a measure of the price movement of approximately 500 companies listed with the ASX |
| Allocative efficciency | the economy's ability to shift resources to where they are most valued and can be most efficiently |
| Amalgamation | the combination into a single busines entity of firms that were previously independently owned and controlled, in order to enhance competitive strength |
| arbitration | A process in which a third party make a judgement to resolve a dispute, by which the disputing parties must abide |
| Assets | items of value owned by an individual or organisation |
| Australian Competition and Consumer Commission (ACCC) | an independent federal government authority establisged to oversee the administration of the TRade Practices Act 1974 (Cth) and subsequent admendments. It promotes competition and fair trading inn the marketplace, including the stock market, where... |
| `Australian Securities and Investments Commission (ASIC) | the regulating government body that oversees operations and activities of firms. The ASIC also regulates the activities of investment advisers and dealer in the stock market |
| Australian Securities Exchange (ASX) | a national organisation that operated a stock market for the trading of shares and other securities |
| Authorised deposit-taking institution (ADIs) | corporation authorised under the Banking Act 1959 (Cth), which are subject to the same prudential standards applied by the Australian Prudential Regulation Authority (APRA). Includes bank, credit unions and building societies |
| Average cost | the cost per unit of output, calculated by dividing total cost (fixed costs + variable cost) by the number of outputs |
| Average Revenue | the return per unit |
| Balance sheet | a lit of assets, liabilities and net worth of an individual or organisation at a particular point in time |
| Bank reconciliation | the process of ensuring that an individual or organisation cash records agree with the records of their financial institution |
| 'Bankers' dilema' | the decision of how much to lend to make profits balanced against how much to retain to meet withdrawals and Reserve Bank requirements |
| Banks | financial institutions authorised by the Banking Act 1959 (Cth) and amendements to receive deposits, make loans and provide other finacial ervice |
| Barrier to entry | cost-based, market-based and legal-based factors that prevent the entry of a new firm to an industry on a competitive level equivalent to that existing firm |
| Barter | the direct exchange of goods or services without the use of money as a medium of exchange |
| Benefits | the positive factors of a project or policy |
| Bid | the price at which an investor is willing to buy shares |
| Blue-chip share | shares in a company known for it ability to make a profit in good and bad times |
| Bonds | like debentures, but the loans are made to a government or semi-government authority with a fixed rate of interest for a specified period |
| Bonus issue | free shares issued to existing shareholders, in ratio to the number of shares already held |
| Borrowing | extra money obtained to use for a period of time, during or after which it must be repaid with interest |
| Brokerage | the fees charged by a stockbroker for services in buying and selling shares |
| Budget | a financial plan estimating income and expenditure over a period of time |
Created by:
fmill17
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