earnings per share: the amount of money a company
makes per share of common stock. This figure is calculated
by takingnet income anddividing it by the number of com-
mon shares outstanding.
earnings: the profit made by a company.
economic growth: increases in an economy's total output
over aperiod oftime.
economic indicator: astatistical measurement of the
state of the economy or some important part of the economy.
economic model: any simplified statement, diagram or
formula used to understand economic events.
economic rent: the amount received by property owners
over and above the lowest price they would have accepted.
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economic system: the approach a country uses to deal
with scarcity and achieve its economic goals.
economics: the social science that describes and analyzes
how society chooses from among scarce resources to satisfy its