Money Moves
Money kept for everyday spending is usually stored in this kind of account.
What is a checking account?
Borrowing money now and promising to pay it back later is using this.
What is credit?
This commodity often gets watched closely during conflict because it affects transport, energy, and inflation
What is oil?
When outside events affect what families pay at the pump or grocery store, that shows this connection.
What is global to local economics?
Demand that changes a lot when price changes is called this.
What is elastic demand?
This kind of account is more associated with short-term saving than daily swiping.
What is a savings account?
Failing to repay a loan as agreed is called this.
What is default?
If wheat-producing regions are disrupted by conflict, this broad consumer category may become more expensive.
What is food?
Conflict can affect Americans even far away by disrupting this movement of goods.
What is trade?
Demand that changes only a little when price changes is called this.
What is inelastic demand?
The fee paid for borrowing money.
What is interest?
Paying only this on a credit card keeps you current but often keeps you in debt longer.
What is the minimum payment?
If conflict threatens shipping lanes, this cost often rises for firms moving goods internationally.
What is shipping cost?
If supply is reduced by war or instability, equilibrium price will usually do this.
What is increase?
Gasoline in the short run is often used as an example of this type of demand.
What is inelastic demand?
This three-digit number can affect how expensive borrowing becomes.
What is a credit score?
A stronger credit score usually helps a borrower get this kind of rate.
What is a lower interest rate?
A sharp rise in jet fuel prices can help push up the price of this service.
What is air travel?
If prices rise because costs of production rise, that is this kind of inflation.
What is cost-push inflation?
Demand usually becomes more elastic when consumers have more of this.
What is time?
Paying off borrowed money over time according to the terms is called this.
What is repayment?
The real danger of bad credit is not just embarrassment; it can make borrowing more of this.
What is expensive?
Students tracking one item before, during, and after conflict are essentially observing changes in this
What is price?
A family forced to cut entertainment because essentials got pricier is facing this basic economic reality.
What is scarcity?
Businesses care about elasticity because it affects this.
What is revenue?