Macroeconomics
What is the difference between real GDP and nominal GDP?
Real GDP is adjusted for inflation, while nominal GDP is not.
What causes shifts in the demand curve?
Changes in income, consumer preferences, prices of related goods, and expectations.
What is overconfidence bias?
People tend to overestimate their own knowledge or abilities.
What are the main goals of a green economy?
Sustainable growth, reducing carbon emissions, conserving resources, and promoting social equity.
What is data privacy?
The protection of personal information from unauthorized access or misuse.
What are the main macroeconomic goals?
Economic growth, full employment, price stability, and a balanced trade.
What causes shifts in the supply curve?
Changes in production costs, technology, number of suppliers, and government policies.
What is loss aversion?
People feel the pain of losses more strongly than the pleasure of equivalent gains
What are green taxes?
Taxes on activities that harm the environment, such as carbon taxes on fossil fuels.
What is e-commerce?
Buying and selling goods or services online.
What is deflation?
Deflation is a decrease in the general price level of goods and services.
What is marginal utility?
It is the additional satisfaction gained from consuming one more unit of a good.
What is prospect theory?
It explains how people value gains and losses differently, often leading to irrational decision-making.
What are the main sources of renewable energy?
Solar, wind, hydro, geothermal, and biomass energy.
What is big data?
Large volumes of data that require advanced tools for storage, processing, and analysis.
What are the types of unemployment?
Frictional, structural, cyclical, and seasonal unemployment.
What are the main types of market structures?
Perfect competition, monopoly, monopolistic competition, and oligopoly.
Bonus points
+500
What are the key sectors of a green economy?
Renewable energy, sustainable agriculture, green transport, waste management, and eco-friendly industries.
What are the key drivers of digitalization?
Advancements in technology, demand for efficiency, data growth, and connectivity.
What is a trade surplus?
A trade surplus occurs when a country exports more than it imports
What is the difference between fixed and variable costs?
Fixed costs do not change with output (e.g., rent), while variable costs change with output (e.g., raw materials)
What is the anchoring effect?
People rely too much on the first piece of information they receive when making decisions.
Penalty points
-200
Why is digitalization important?
It increases efficiency, reduces costs, improves customer experience, and enhances innovation.