Fundamentals
International
Microeconomics
Personal
Macroeconomics
100
The next best alternative
What is Opportunity Cost?
100
5 Types of Trade Barriers
What is Quotas, Standards, Subsidies, Embargo, and Tariffs?
100
when price and quanitiy have an inverse relationship
What is Law of Demand
100
Individuals who don't have a job but are looking for one.
What is Unemployment?
100
The actions of the Fed or the federal reserve to control the money supply and to stabilize the economy
What is Monetary Policy
200
Capital, Enterpreneurship, Land, Labor
What is The Factors of Production?
200
Trade without any government restriction
What is Free Trade?
200
When price and quanity shift in the same direction
What is law of supply
200
Cyclical, Frictional, and Structural
What is the 3 Types of Unemployment?
200
Store of Value, Unit of account, and medium of exchange
What are the 3 functions of money
300
Total market value of all final goods produced in a nation over a specific period of time, (usually a year)
What is Gross Domestic Product or GDP?
300
Nafta is an example of
What is Trade Agreement?
300
where the quantity supplied is equal to quantity demanded
What is Equilibrium
300
Unemployment that is based on a "Down Turn" in the economy, such as a recession, depression, contractonary and trough of the business cycle
What is Cyclical Unemployment?
300
progressive, regressive and proportional
What are the 3 types of taxes
400
The declining amount of freshwater in the world is an example of
What is Scarcity?
400
"if i dont like you, i dont trade with you" is an example of
What is Embargo?
400
shifters of the demand curve
What is T-astes and preferences I-income P-rice of related goods E-expectations N-number of buyers
400
A man losing his job because he is replaced by technology
What is Structual Unemployment?
400
Government spending and taxing decisions
What is Fiscal Policy
500
A graph that shows the combinations of two goods that can be produced in an economy or company given their resources.
What is Production Possibilities Curve (PPC)?
500
Free money from the government
What is Subsidies?
500
Does price shift the curve
What is No
500
Formula for Unemployment
What is Number of People Looking for Work Over The Civilian Labor Force, Not Including the Military or Retired People?
500
Money used to express the value of goods and services
What is Unit of Account
M
e
n
u