Chapter 1
Chapter 2
Chapter 3
Chapter 6-11
Misc.
100
Things necessary for life
What is needs
100
A small and inadequate amount of a good/service
What is scarcity
100
The total value of goods produced and services provided in a country during one year.
What is GDP/ Gross Domestic Product
100
Any regulation or policy that restricts international trade
What is trade barriers
100
A certificate issued by a bank to a person depositing money for a specified length of time
What is a certificate of deposit
200
Things to make life easier and more enjoyable
What is wants
200
The people wanting to buy a good in high numbers
What is demand
200
the percentage of the work force that is unemployed at any given time
What is unemployment rate
200
The exclusive possession or control of the supply or trade in a commodity or service
What is a monopoly
200
One's most liquid asset
What is a checking account
300
A non-renewable resource
What is limited resources
300
A stock of a resource to be provided when needed
What is supply
300
A general increase in prices and fall in the purchasing value of money.
What is inflation
300
A government authority to an individual or organization conferring a right or title
What is patent
300
A sum of money paid regularly (typically quarterly) by a company to its shareholders out of its profits (or reserves).
What is dividends
400
Earnings after you deduct your expenses
What is profit
400
One who assumes the risks of staring and running a business
What is an entreprenuer
400
Reduction of the general level of prices in an economy
What is deflation
400
A farm, business, or other organization that is owned and run jointly by its members, who share the profits or benefits
What is co-op/ cooperative
400
The conundrum that the U.S. government faced at the end of 2012, when the terms of the Budget Control Act of 2011 are scheduled to go into effect.
What is the fiscal cliff
500
Multiple businesses with similar items and motives
What is competition
500
Amish economies
What is tradition/custom economies
500
a period of an economic contraction, sometimes limited in scope or duration
What is recession
500
A sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service
What is subsidies
500
Eagles Head Coach
Who is Chip Kelly
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