The sharing economy is a model of exchange in which goods and services are shared between people over the internet, enabling access instead of ownership.

An economic bubble is a term that describes a time period where there is a sudden hike in the prices of goods far beyond their intrinsic value.

Loss leader pricing is a pricing strategy where a company sets a low price for certain items in hopes of luring customers into its store or website and selling them other, higher-margin products. By offering one item at a discounted rate, the company can recoup some of its losses from the discounted item with profits from sales of other items.

Foreign Direct Investment (FDI) is an investment made by a company in a foreign country with the intention of establishing business operations, acquiring assets or participating in joint ventures.

The cost saving or efficiency gain that is achieved by manufacturing several complementary products at once as compared to manufacturing each product independently.

Price elasticity refers to the measure of the responsiveness of the quantity demanded of a product or service to a change in its price. In other words, it indicates how much the demand for a product or service changes when its price changes.

A market structure where a small number of firms dominate the market and exert significant control over the price and supply of goods or services.

Gross Domestic Product refers to the total value of all products or services produced within a country in a one year period.

Foreign markets are markets that exist outside an individual's country or region of operation

Emerging markets are countries considered to be recently thriving economically and attracting both business and customer interests.

An economic union is the coming together of two or more nations to create a group where exchange of goods and services can happen easily.

Someone who uses or benefits from a product or service whether directly or indirectly.

A monopoly is a market structure where a single company or entity is the only seller of a particular product or service in a given market. This gives the company significant pricing power, as there are no close substitutes available for consumers to turn to. Monopolies can be the result of a lack of competition, high barriers to entry, or government regulation.

Market segmentation is the process of dividing a market into smaller groups of consumers who share common needs or characteristics, allowing businesses to better understand and target their specific preferences and behaviors.

The organizational characteristics of a market, including the number and size of firms, types of products sold, and ease of entry into the market. It provides a framework for analyzing and understanding how markets operate and the behavior of firms within those markets.