How are production, competition, income, and well-being measured?

"producer price index (PPI): An index of the prices paid by producers and wholesalers for various commodities, such as raw materials, partially finished goods, and finished products. productivity: The amount of goods and services one worker can produce. profit: The money left over after all costs are paid. purchasing power: The value of what money can buy. pure monopoly: A market structure in which a single firm accounts for all industry sales of a particular good or service and in which there are barriers to entry . quality of life: The general level of human happiness based on such things as life expectancy, educational standards, health, sanitation, and leisure time. recession: A decline in GDP that lasts for at least two consecutive quarters. relationship management: The practice of building, maintaining, and enhancing interactions with customers and other parties to develop long-term satisfaction through mutually beneficial partnerships. revenue: The money a company receives by providing services or selling goods to customers. risk: The potential to lose time and money or otherwise not be able to accomplish an organization’s goals. savings bonds: Government bonds issued in relatively small denominations. seasonal unemployment: Unemployment that occurs during specific seasons in certain industries. services: Intangible offerings of businesses that can’t be held, touched, or stored. socialism: An economic system in which the basic industries are owned either by the government itself or by the private sector under strong government control. standard of living: A country’s output of goods and services that people can buy with the money they have."