BUS 201 Chapter Notes - Chapter 2: Outsourcing, Deflation, Shareholder Rights Plan

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 201
• Professor: Peter Tingling

Document Summary

External environment: consists of everything outside an organization that might affect it. Organizational boundary: separates the organization from its environment. Economic environment: conditions of the economic system in which an organization operates. Aggregate output: the total quantity of goods and services produced by an economic system during a given period. The business cycle: pattern of short terms ups and downs in an economy, recession, peak to trough, depression, trough for more than two years. Gross domestic product (gdp): total value of all goods and services produced within a given period by a national economy though domestic factors of production. Gross national product (gnp): total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located. Real growth rate: preferred method of calculation national income and output, adjusted for inflation and changed in the value of the country"s currency. Real gdp: gdp has been adjusted for currency change.