Economists of the future & British business book

Fiscal stimulus Increasing government consumption/transfers or lowering taxes (Expansiv finanspolitik)

Fiscal policy A government adjusts its spending levels and tax rates to monitor and influence a nation's economy

Monetary policy The government manages the money supply and interest rate to influence a nation's economy

Stagnant Period of little or no growth in an economy

Plentiful Existing in great quantities

Visible hand Company has total control of the process from raw materials to the final product

Invisible hand An unobservable market force that helps the demand and supply of goods in a free market to reach equilibrium automatically

Entrepreneurship Setting up a business, taking on financial risks in the hope of profit

Management Controlling things/people

Emerge Move out of or away from something

Industrial paternalism Businesses providing welfare-like services to employees

Sub-contracting Employ a firm/person outside one's company to work as part of a larger project

Manufacturing The making of articles on a large scale using machinery

Joint-stock company A business owned by people called shareholders. Each shareholder owns company stock in proportion to the number of their shares

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