Economy and Business terms Charlie, your teacher of English.pdf


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Economy and Business Terms - Charlie, your teacher of English
handle two main types of brokerage accounts: advisory accounts and discretionary accounts.
Brokers are only allowed to conduct transactions on advisory accounts on the specific orders of the
account holder, or under very specific instructions. On the other hand, they have much more leeway
over discretionary accounts, conducting transactions not prohibited by the account holder in
accordance with the holder's investment goals and the prudent man rule. In practice, most
brokerage firms are in fact broker-dealer firms. Most brokers must register with the SEC.
Brokerage: It's a real estate activity devoted to assisting buyers and/or sellers in the purchase of
real property. In smaller communities, brokerage activities are conducted on a type of general
practitioner basis. In larger communities, brokers generally specialize in certain price ranges or
types of residential properties; or some combination of office buildings, retail space, food service,
industrial activities, warehouse, farms and lands, or development land.
Budget: It's the chancellor's annual announcement of the British government's fiscal policy
changes. Inside the chancellor's famous red briefcase are details of how much cash he plans to
raise through taxes and how he then plans to spend it. It usually takes place in March.
In a balanced budget, the government matches income to expenditure. Classical economists
argued that this should always be the aim of government policy. The budget is in deficit when
government income falls short of spending plans, and in surplus when the government collects
more in taxes than it intends to spend on public goods and services.
Bull Market: It's a prolonged period in which investment prices rise faster than their historical
average. Bull markets can happen as a result of an economic recovery, an economic boom, or
investor psychology. The longest and most famous bull market is the one that began in the early
1990s in which the U.S. equity markets grew at their fastest pace ever.
Business Cycle: The business cycle is the fluctuation in economic activity that an economy
experiences over a period of time. A business cycle is basically defined in terms of periods of
expansion or recession. During expansions, the economy is growing in real terms (i.e. excluding
inflation), as evidenced by increases in indicators like employment, industrial production, sales and
personal incomes. During recessions, the economy is contracting, as measured by decreases in the
above indicators. Expansion is measured from the trough (or bottom) of the previous business cycle
to the peak of the current cycle, while recession is measured from the peak to the trough. In the
United States, the National Bureau of Economic Research (NBER) determines the official dates for
business cycles.
Buy-out: A buy-out occurs where a controlling proportion of a firm's shares are purchased by a
single party. A term often heard is "management buy-out" which means the management buys
company shares to become the owner of that company.
Another type of buy-out is where a company buys back shares in itself that it has previously sold off,
thereby taking itself off the stock market and turning itself back into a private firm.
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Buy-to-let mortgages: Buy-to-let mortgage is a mortgage arrangement in which an investor
borrows money to purchase property in the private rented sector in order to let it out to tenants. Buy6

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