Ch1
Ch4
Ch6
Ch9
Ch16
100
What is the social science that deal with how people satisfy seemingly unlimited?
Economics
100
What kind of curve is a curve that shows the quantities demanded at all possible prices?
demand curve
100
When we find a situation where quantity supplied is greater than quantity demanded at a giveb price?
surplus
100
What is the final burden of a tax?
incidence of a tax
100
the goods and services that a nation sells to other nations
exports
200
What are the productive resources that make up the four categories of land, capital, labor and entrepreneurs?
Factors of production
200
What is the additional satisfaction a consumer gets from having one more unit of a product?
marginal utility
200
When we find the situation where quantity supplied is less than quantity demanded at a given price?
shortage
200
exception or oversight in the tax law allowing a taxpayer to avoid paying certain taxes
tax loophole
200
tax placed on an imported product
tariff
300
What is the dollar value of all final goods?
GDP
300
What is a shift of the demand curve when people buy different amounts at every price?
change in demand
300
What is the lowest legal price that can be paid for a product?
price floor
300
general state levied on a product at the time of sale
sales tax
300
tax place on imported goods to raise evenue
revenue tariff
400
What is the tangible economic product that is useful to others?
Good
400
What is the products that increase the use of other products?
complements
400
What is the highest legal price that can be charged for a product?
price ceiling
400
adjustment of the tax brackets to offset the impat of inflation
indexing
400
person who favors fewer no trade restriction
free trader
500
What is the market where goods and services are bought and sold?
product market
500
What is the type of elasticity where a change in price causes a relatively larger change in quantity demandes?
elastic
500
price where quantity supplied equals quantity demanded?
equilibrium price
500
tax on imported products
customs duty
500
difference between money paid to, and received from, other nations trade
balance of payments
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