Economic Vocab
The word for people without work
What is unemployment?
The quantity of a product produced at a given price.
What is supply?
This form of policy is directly affected by the Federal reserve.
What is Monetary Policy?
The need for a certain industry.
What is industry demand?
What you miss out on after making a choice.
What is opportunity cost?
The rise in prices of goods and services, often as a result of money being printed.
What is inflation?
The higher the price the more producers will supply.
What is law is supply?
Interest rate banks pay to borrow money from the Fed.
What is discount rate?
Businesses competing against each other.
What is industry competition?
The cost to produce a product.
What is production expense?
What is GDP?
What is equilibrium price?
The Fed increases the reserve requirements for banks. This decreases the ____.
What is money supply?
A companies % of sales compared to all others in an industry.
What is market share?
Studies the behavior of the overall economy of the United States.
What is macroeconomics?
The cost of borrowing money.
What is interest rate?
The higher the price, the less it will be demanded.
What is law of demand?
Means by which a government adjusts its spending levels and tax rates.
What is fiscal policy?
Competition between businesses is good for consumers because it lowers _____.
What is prices?
The leading country of GDP.
What is the United States?
When someone loses their job because it was moved overseas.
What is structural unemployment?
Starbucks brings back fall flavors, what is increased as a result?
Lower tax rates encourages consumers to _____.
What is spend more?
What is competitive advantage?
A form of investment provided by the government to decrease the money supply of the economy.
What is T-Bills/T-Bonds?