Market Terms
The economy that is based upon customs-- economic roles are typically passed down through generations.
What is a traditional economy?
Rapid growth rates, low interest rates, and increased production.
What is expansion?
What is scarcity?
Gas rates plummet, and this happens to the demand curve for cars.
The demand curve will shift right
This is the most common flavor in root beer.
What is sassafras?
The study of economic behavior and the decisions of small units
What are microeconomics?
Prices and economic indicators stabilize before reversing to the downside.
What is a peak?
The price at which a good or service can be sold.
What is a market price?
If the government enacts a tax on sugary drinks, this will happen to the demand curve.
Quantity demanded goes down
The US received the Statue of Liberty on this date.
When is June 19th, 1885?
An economy that mingles free public enterprise and government regulation
What is a mixed economy?
Growth slows, unemployment rises, and prices stagnate.
What is contraction/recession?
How we make decisions in a world with limited resources.
What are economics?
If electric cars have a price drop because of government subsidies, this will happen to the demand curve.
Quantity demanded goes up
There are this many columns in the Lincoln Memorial.
What is 36?
A group of diverse companies under common ownership and run as a singular organization
What is a conglomerate?
This occurs when the Real GDP continues to decline for more than six months straight.
What is a recession?
A monetary measure of the market value
The price of furniture changes because of a change in consumer preferences, what happens to the supply curve?
Quantity supplied goes up
Marie Antoinette was this age when she was first married.
What is 14?
A statistic to gauge future trends in a nation's economy.
What is an indicatior?
The last major recession happened on this month of this year.
What is December, 2007?
Policy done by a central spending authority of the government to support the economy.
What is fiscal policy?
The price of high fructose corn syrup, a common ingredient in sodas, decreases. This will happen to the supply curve.
The supply curve shifts right
This man made the first phone call to the moon.
Who is Richard Nixon?