GDP
Economic Basics
Vocabulary 1
Vocabulary 2
Copyright
100
The total value of goods produced and services provided in a country during one year.
What is Gross Domestic Product?
100
Needs are required in order to live.
What is a Need?
100
individuals and organizations that determine what products and services will be available for sale.
What are producers?
100
When prices fall.
What is deflation?
100
the exclusive right to make copies, license, and otherwise exploit a literary, musical, or artistic work, whether printed, audio, video, etc.
What is Copyright?
200
A steady increase in the production of goods and services in an economic system.
What is Economic growth?
200
Wants are things that add comfort and pleasure to your life.
What is a Want?
200
People who buy and use goods and services
What are consumers?
200
Money that is left unspent
What is Budget Surplus?
200
the conditions under which you can use material that is copyrighted by someone else without paying royalties
What is Fair Use?
300
Customes, Businesses, and the Government spending money.
What does GDP include?
300
Human, Capital, and Natural.
What are the three types of economic resources?
300
the quantity of goods or services that consumers are willing and able to buy.
What is demand?
300
Long-term downfall in the economy.
What is depression?
300
The public can use a website or an author's work freely.
What is Public Domain?
400
Work you do for your self
What is not included in GDP?
400
The process of choosing which wants, among several options, will be satisfied.
What is the purpose of economic decision-making?
400
the quantity of goods or services that businesses are willing and able to provide.
What is Supply?
400
It is a cycle of economic expansion
What is Business Cycle?
400
the value of the next-best alternative that you did not choose.
What is Oppertunity Cost?
500
Personal Income and Retail Sales
What is Consumer Spending?
500
Six steps
How many steps are there in the Decision Making Process?
500
the rivalry among businesses to sell their goods and services.
What is Competition?
500
The gross domestic product or income is a measure of a country’s overall economic output
What is GDP Per Capita?
500
It is orginal, tangibly fixed, and has been Expressed.
What three factors qualify a work for copyright protection?
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