The value of a bond that is paid upon maturity. This value is fixed, and therefore not the same as the market value of a bond, which is influenced by changes in interest rates and risk

A set of exclusive rights granted to a creator of an invention or creative work, allowing the owner to earn profits over a fixed period of time. The types of protection include patents, copyrights, trademarks, and industrial designs

The money required by businesses to purchase inputs for production and to run their operations

A unit of ownership in a business that entitles the shareholder to one vote at shareholder meetings and one share of any dividends paid

The market value of a firm determined by the current price per share of its stock multiplied by the total number of shares issued

The annual return to a bond measured as the coupon payment as a percentage of the current price of a bond

The return to land as a factor of production. Sometimes called economic rent

The date on which the face value of the bond must be repaid

The use of higher education as a way to let employers know that the prospective employee is intelligent and trainable and potentially has the discipline to be a good employee

Training typically done by employers, ranging from suggestions at work to intensive workshops and seminars

The value of an investment (future stream of income) today. The higher the discount rate, the lower the present value today, and vice versa

Uses the present value formula, but subtracts costs, then finds the interest rate (discount rate) at which this investment would break even

All manufactured products that are used to produce goods and services

An asset used to secure a loan that can be sold if the borrower fails to repay a loan

Investments such as education and onthe-job training that improve the productivity of labor

A periodic fixed payment to the bond holder measured as an annual percent of the bond’s face value