Applied Finance review 4

A market where the price of an item is arranged by the mutual consent of sellers and buyers.

• Free Market

• Agent Market

• Local Market

The integration among people, companies, and governments across geographical boundaries.

• free market

• globalization

• integration

To unite with something else; to form, coordinate, or blend into a functioning or unified whole.

• free market

• interdependence

• integration

The mutual responsibility and dependency on others.

• interdependence

• integration

• globalization

When companies reduce costs by transferring portions of work to outside suppliers rather than completing it internally.

• outsourcing

• globalization

• integration

AD&D stands for

• Agents death and dismemberment policy

• accidental death and dismemberment policy

• accidental doing and documentpolicy

An employer-funded retirement plan with payouts to the retiree based on a formula that includes length of service and salary history, such as a pension.

• defined-benefit plan

• defined-contribution plan

• disability insurance

A retirement plan in which a certain amount or percentage of money is set aside each year by the employee or the company, or both; payouts are dependent on the amount of contributions made

• defined-benefit plan

• defined-contribution plan

• disability insurance

Insurance that pays a monthly benefit to workers who, because of injury or illness unrelated to work, cannot do their normal job or any other job.

• accidental death and dismemberment policy (AD&D)

• disability insurance

• defined-benefit plan

A health care arrangement under which a health care provider charges, and the insurance company pays for, each service separately.

• free market

• fee-for-service (FFS)flex time