Supply & Demand
Define the Law of Supply
As prices increase, supply increases and as prices decrease, supply decreases
Americans owe this much in Student Loans
1.7 trillion dollars
Define a Tariff
Taxes imposed by one country on goods or services imported from another country
Economic rules and goals passed down by a sole leader or leading group
Define Portfolio
A compilation of a person’s interests, hobbies, jobs, and other personal aspects
Define Equilibrium
When supply meets demand
During the time time of the Coronavirus, President Biden created
The Student Loan Forgiveness Plan
An excise tax on specific goods & services due to it's ability/perception to be harmful is this kind of tax
Sin Tax
This is the oldest Economic System
Traditional
Streaming subscriptions are considered a _ risk investment
Low
If an item were to go on sale, the demand for it will
Increase
Since 2008, Student Loans have
Doubled
This type of tax is one where the average tax burden increases with income
Progressive tax
This economic system brings together buyers and sellers of goods and services and decision making is decentralized
Market/Command system
This is an investment that represents ownership in a company or corporation
Stocks
Define the Substitution Effect
Demand for an item may be influenced by the price of the substitute
The most student debt on average belongs to borrowers between the ages of
25-35 years old
In California, sales tax is
7.25%
Define a Mixed Economic System
Combining public and private enterprise
Define a Broker
A person who is licenced to buy and sell stocks, provide investment advice, and collect commission on each sale
How does scarcity affect demand
If there is a scarcity of an item/good, demand goes up
The average student loan balance in America is
$37,000
The third highest paid tax by Americans is
Cigarette Tax
This economic system is the most environmentally friendly but has limited progression
Traditional
This organized exchange began in 1792 and consists of 2,800 companies
New York Stock Exchange