Free Market
When prices go up, so will this. When prices go down, so will this.
What is Supply?
This level of competition is extremely difficult and expensive to enter?
What is an Oligopoly?
What is Gross Domestic Product or GDP?
This has a strong central government.
What is Communism?
Checks that get written, go through this entity.
What is the Federal Reserve (The Fed)?
When prices go up or go down, this will do the oppposite.
What is Demand?
This level of competition is illegal.
What is a Monopoly?
Unemployment level for people with a four-year degree.
What is 2%?
System that allows for fair competition.
What is Capitalism?
This policy involves the government taxing and spending money.
What is the Fiscal Policy?
The price point at which an agreement is made between a supplier and consumer.
What is Equilibrium Price?
Verizon Wireless is at this level of competition.
What is Oligopoly?
This measures inflation for the consumer.
What is the Consumer Price Index?
This is in between Capitalism and Communism.
What is Socialism?
Money supply that where the government tracks how much money is being saved in savings accounts and CD's.
What is the M2 money supply?
This studies a country's overall economy.
What is Macroeconomics?
Stadiums can charge a higher price for food because they control what two things?
What is competition and supply?
I want to work but can't find it.
What is Unemployment?
What is Socialism?
Banks can lend this percentage of money deposited in accounts.
What is 90%? Other words, they have to keep back 10%. That is the Reserve Requirement.
After a period of contraction and the economy starts to heal and grow, this comes next in the Business Cycle.
What is a Recovery?
This level of competition focuses on differentiation.
What is Monopolistic?
Measures how efficient we are with our labor and capital.
What is Productivity?
No inventions, Nobel Prize winners or new medicines come from this type of economic system.
What is Communism?
When government Expenses are higher than Revenues.
What is a Deficit?
Period of strong economic growth
What is Expansion?
Illegal business tactic when business work together to artificially raise prices.
What is Collusion or Anti-Trust?
Inflation for businesses.
What is Producer Price Index?
The good ol' USA is this type of economy.
What is a Mixed economy?
The Fed meets this often to discuss interest rates.
What is every 6 weeks?