boom

American Heritage Dictionary:

boom1
Home > Library > Literature & Language > Dictionary (bm) v., boomed, booming, booms. v.intr. 1. To make a deep, resonant sound.
2. To grow, develop, or progress rapidly; flourish: Business is booming.

v.tr.
1. To utter or give forth with a deep, resonant sound: a field commander booming out

orders. 2. To cause to grow or flourish; boost. n. 1. A deep resonant sound, as of an explosion. 2. A time of economic prosperity. 3. A sudden increase, as in popularity. [Middle English bomben, imitative of a loud noise.]

boom2 (bm) n.
1. Nautical. A long spar extending from a mast to hold or extend the foot of a sail. 2. A long pole extending upward at an angle from the mast of a derrick to support or guide

objects being lifted or suspended. 3. a. A barrier composed of a chain of floating logs enclosing other free-floating logs, typically used to catch floating debris or to obstruct passage. b. A floating barrier serving to contain an oil spill. 4. A long movable arm used to maneuver and support a microphone.

5. a. A spar that connects the tail surfaces and the main structure of an airplane. b. A long hollow tube attached to a tanker aircraft, through which fuel flows to another aircraft being refueled in flight. tr.v., boomed, booming, booms. To move or position using a crane: "The renegade logs somehow escaped while . . . the logs were boomed up into the mile-long rafts that ply these channels" (Jack Weatherford). idiom: drop (or lower) the boom 1. To act suddenly and forcefully to repress a practice or reprimand an offender; crack down. [Dutch, tree, pole, from Middle Dutch.]

boom
Definition
Period that follows recovery phase in a standard economic cycle. A boom is characterized by an economy working at full or near-full capacity, strong consumer demand, low rate of unemployment, and a rising stockmarket, usually accompanied by rapidly increasing consumer prices (inflation). Ads by Google Read more: http://www.businessdictionary.com/definition/boom.html#ixzz1kDXv0ufG

Definition of Deflation | Problems of Deflation

By Tejvan Pettinger on September 29, 2011 in economics, inflation

Readers Question: Define deflation. Discuss its merits and demerits?

Deflation is defined as a fall in the general price level. It is a negative rate of inflation. It means the value of money increases rather than decreases.

In the twentieth century, periods of deflation have been rare. Generally, western economies have experienced inflation. The most significant period of deflation was in the 1920s and 1930s. These decades (especially, the 1930s) were characterised by economic depression. Deflation is often considered to be very damaging as it can exacerbate an economic downturn leading to higher unemployment.
Problems of Deflation 1. Discourages consumer spending. When there is deflation, consumers expect prices to keep falling. Therefore, this can discourage consumers from buying goods (especially luxury, non-essential items, e.g. flatscreen TV) because they will be cheaper in the future. Therefore, periods of deflation often lead to lower consumer spending and lower economic growth; (this in turn creates more deflationary pressure in the economy. Certainly this fall in consumer spending was a feature of the Japanese experience of deflation (Japanese financial crisis). 2. Increase Real Value of debt. Deflation increases the real value of money and the real value of debt. Deflation makes it more difficult for debtors to pay off their debts. Therefore, consumers and firms have to spend a bigger percentage of disposable income on meeting debt repayments. (in a period of deflation, firms will be getting lower revenue, and consumers likely to be getting lower wages). Therefore, this leaves less money for spending and investment. This is particularly a problem in a balance sheet recession where firms and consumers are trying to reduce their exposure to debt. 3. Increased Real Interest Rates. Interest rates cant fall below zero. If there is deflation of 2%, this means we have a real interest rate of + 2%. In other words saving money gives a reasonable return. Therefore, deflation can contribute to an unwanted tightenening of monetary policy. This is particularly a problem for Eurozone countries which dont have recourse to

any other monetary policies like quantitative easing. This is another factor that can lead to lower growth and higher unemployment. 4. Real Wage Unemployment. Labour markets often exhibit sticky wages. In particular, workers resist nominal wage cuts (no one likes to see their wages actually cut, especially when you are used to annual pay increases. Therefore, in periods of deflation, real wages rise. This could cause real-wage unemployment Potential Benefits of Deflation

Despite the many serious costs of deflation. The right kind of deflation could be beneficial. The right kind of deflation involves lower prices through increased productivity and better technology. A Level students should think of the AS curve shifting to the right which both lowers the price level and increases real GDP. Although deflation in the twentieth century is often associated with economic recession. In the nineteenth century, deflation was compatible with economic growth.

#deflation
Definition
A decline in general price levels, often caused by a reduction in the supply of money or credit. Deflation can also be brought about by direct contractions in spending, either in the form of a reduction in government spending, personal spending or investment spending. Deflation has often had the side effect of increasing unemployment in an economy, since the process often leads to a lower level of demand in the economy. opposite of inflation. Read more: http://www.investorwords.com/1376/deflation.html#ixzz1kDZW8DtN

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owner

Definitions (3)
1. A party that possesses the exclusive right to hold, use, benefit-from, enjoy, convey, transfer, and otherwise dispose of an asset or property. 2. Contracts: The party who awards a contract for a project and undertakes to pay the contractor. Also called contract owner. 3. An employee or executive who has the principle responsibility for a process, program, or project. Ads by Google

Read more: http://www.businessdictionary.com/definition/owner.html#ixzz1kDa8tIHI

manager

(m n -j r)

n. 1. One who handles, controls, or directs, especially: a. One who directs a business or other enterprise. b. One who controls resources and expenditures, as of a household. 2. One who is in charge of the business affairs of an entertainer. 3. Sports a. One who is in charge of the training and performance of an athlete or a team. b. A student who is in charge of the equipment and records of a school or college team. man agership n.

employee
Definition
A person who is hired to provide services to a company on a regular basis in exchange for compensation and who does not provide these services as part of an independent business. Read more: http://www.investorwords.com/1696/employee.html#ixzz1kDbzfutc
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GDP
Definition

Gross Domestic Product. The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports. The GDP report is released at 8:30 am EST on the last day of each quarter and reflects the previous quarter. Growth in GDP is what matters, and the U.S. GDP growth has historically averaged about 2.5-3% per year but with substantial deviations. Each initial GDP report will be revised twice before the final figure is settled upon: the "advance" report is followed by the "preliminary" report about a month later and a final report a month after that. Significant revisions to the advance number can cause additional ripples through the markets. The GDP numbers are reported in two forms: current dollar and constant dollar. Current dollar GDP is calculated using today's dollars and makes comparisons between time periods difficult because of the effects of inflation. Constant dollar GDP solves this problem by converting the current information into some standard era dollar, such as 1997 dollars. This process factors out the effects of inflation and allows easy comparisons between periods. It is important to differentiate Gross Domestic Product from Gross National Product (GNP). GDP includes only goods and services produced within the geographic boundaries of the U.S., regardless of the producer's nationality. GNP doesn't include goods and services produced by foreign producers, but does include goods and services produced by U.S. firms operating in foreign countries. Read more: http://www.investorwords.com/2153/GDP.html#ixzz1kDcRvpjF

Gmp

"Good manufacturing practice" or "GMP" are practices and the systems required to be adapted in pharmaceutical manufacturing, quality control, quality system covering the manufacture and testing of pharmaceuticals or drugs including active pharmaceutical ingredients, diagnostics, foods, pharmaceutical products, and medical devices. GMPs are guidance that outline the aspects of production and testing that can impact the quality of a product. Many countries have legislated that pharmaceutical and medical device companies must follow GMP procedures, and have created their own GMP guidelines that correspond with their legislation. Basic concepts of all of these guidelines remain more or less similar to the ultimate goals of safeguarding the health of the patient as well as producing good quality medicine, medical devices or active pharmaceutical products. In the U.S. a drug may be deemed adulterated if it passes all of the specifications tests but is found to be manufactured in a condition which violates current good manufacturing guidelines. Therefore, complying with GMP is a mandatory aspect in pharmaceutical manufacturing. Although there are a number of them, all guidelines follow a few basic principles. Manufacturing processes are clearly defined and controlled. All critical processes are validated to ensure consistency and compliance with specifications. Manufacturing processes are controlled, and any changes to the process are evaluated. Changes that have an impact on the quality of the drug are validated as necessary.

Instructions and procedures are written in clear and unambiguous language. (Good Documentation Practices) Operators are trained to carry out and document procedures. Records are made, manually or by instruments, during manufacture that demonstrate that all the steps required by the defined procedures and instructions were in fact taken and that the quantity and quality of the drug was as expected. Deviations are investigated and documented. Records of manufacture (including distribution) that enable the complete history of a batch to be traced are retained in a comprehensible and accessible form. The distribution of the drugs minimizes any risk to their quality. A system is available for recalling any batch of drug from sale or supply. Complaints about marketed drugs are examined, the causes of quality defects are investigated, and appropriate measures are taken with respect to the defective drugs and to prevent recurrence.

GMP guidelines are not prescriptive instructions on how to manufacture products. They are a series of general principles that must be observed during manufacturing. When a company is setting up its quality program and manufacturing process, there may be many ways it can fulfill GMP requirements. It is the company's responsibility to determine the most effective and efficient quality process.

Contents
[hide]

1 Guideline versions 2 Enforcement 3 Other good practices 4 See also 5 References

5.1 Notes 5.2 Sources

6 External links

[edit] Guideline versions

GMPs are enforced in the United States by the US FDA, under Section 501(B) of the 1938 Food, Drug, and Cosmetic Act (21USC351). The regulations use the phrase "current good manufacturing practices" (cGMP) to describe these guidelines. Courts may theoretically hold that a drug product is adulterated even if there is no specific regulatory requirement that was violated as long as the process was not performed according to industry standards.[citation needed] As of June 2010, a different set of cGMP requirements apply to all manufacturers of dietary supplements.[1] The World Health Organization (WHO) version of GMP is used by pharmaceutical regulators and the pharmaceutical industry in over one hundred countries worldwide, primarily in the

developing world. The European Union's GMP (EU-GMP) enforces similar requirements to WHO GMP, as does the Food and Drug Administration's version in the US. Similar GMPs are used in other countries, with Australia, Canada, Japan, Singapore and others having highly developed/sophisticated GMP requirements. In the United Kingdom, the Medicines Act (1968) covers most aspects of GMP in what is commonly referred to as "The Orange Guide", which is named so because of the color of its cover; it is officially known as Rules and Guidance for Pharmaceutical Manufacturers and Distributors.[2] Since the 1999 publication of GMPs for Active Pharmaceutical Ingredients, by the International Conference on Harmonization (ICH), GMPs now apply in those countries and trade groupings that are signatories to ICH (the EU, Japan and the U.S.), and applies in other countries (e.g., Australia, Canada, Singapore) which adopt ICH guidelines for the manufacture and testing of active raw materials.

[edit] Enforcement
Within the European Union, GMP inspections are performed by National Regulatory Agencies (e.g., GMP inspections are performed in the United Kingdom by the Medicines and Healthcare products Regulatory Agency (MHRA)); in the Republic of Korea (South Korea) by the Korea Food & Drug Administration (KFDA); in Australia by the Therapeutical Goods Administration (TGA); in South Africa by the Medicines Control Council (MCC); in Brazil by the Agncia Nacional de Vigilncia Sanitria (National Health Surveillance Agency Brazil) (ANVISA); in Iran, in India gmp inspections are carried out by state FDA and these FDA report to Central Drugs Standard Control Organization [3] and Pakistan by the Ministry of Health;[4], Nigeria has NAFDAC and by similar national organisations worldwide. Each of the inspectorates carry out routine GMP inspections to ensure that drug products are produced safely and correctly; additionally, many countries perform pre-approval inspections (PAI) for GMP compliance prior to the approval of a new drug for marketing. Regulatory agencies (including the FDA in the U.S. and regulatory agencies in many European nations) are authorized to conduct unannounced inspections, though some are scheduled. FDA routine domestic inspections are usually unannounced, but must be conducted according to 704(A) of the FD&C Act (21USC374), which requires that they are performed at a "reasonable time". Courts have held that any time the firm is open for business is a reasonable time for an inspection. Opportunity cost: Definition from Answers.com opportunity cost In economic terms, the opportunities forgone in the choice of ... Home of Wiki & Reference Answers, the world's leading Q&A site Reference Answers ... Corporate finance: concept widely used in business planning; for example, ... the profit a company could have earned from its capital, equipment, and real ... Read more: http://www.answers.com/search? q=business+explain+terminology+with+real+word+examples#ixzz1kDe3NcTL