COMM101 Study Guide - Midterm Guide: Cash Flow, Corporate Social Responsibility, Voice Of The Customer
4 Apr 2016
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Economic: -refers to the economic system in which an organization operates. Balance of trade: the economic value of all the products that a country exports minus the economic value of imported products. A trade deficit negatively affects economic growth because the money that flows out of a country cannot be used to invest in productive enterprise at home/overseas. (cda trade deficit was 4. 8 billion in 2008) Economic growth- aggregate output, gdp, and standard of living. More money with economic growth, thus more opportunity to sell things to the populations. They are sufficiently wealthy to buy things and with more money they want to spend more. A large growing economy presents the opportunity to expand operations (rolls royce in v) Aggregate output total output of goods that a country produces in a given period higher output = growth = higher standard of living, more exports. Gdp is the value of the goods and services that the country produces through fop.
