The amount of some product producers are willing and able to sell at a given price all other factors being held constant.
What is supply?
100
The highest point between the end of an economic expansion and the start of a contraction in a business cycle.
What is a peak?
100
Markets such that no participants are large enough to have the market power to set the price of a homogeneous product.
What is pure competition?
100
The original capital paid into or invested in the business by its founders.
What is stock?
100
The basic economic problem.
What is scarcity?
200
The desire to own anything, the ability to pay for it, and the willingness to pay.
What is demand?
200
A low turning point or a local minimum of a business cycle.
What is a trough?
200
Imperfect competition such that competing producers sell products that are differentiated from one another as good but not perfect substitutes.
What is monopolistic competition?
200
A debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest (the coupon) to use and/or to repay the principal at a later date, termed maturity.
What is a bond?
200
A rise in the general level of prices of goods and services in an economy over a period of time.
What is inflation?
300
When supply and demand are equal (i.e. when the supply function and demand function intersect).
What is equilibrium?
300
An increase in the level of economic activity, and of the goods and services available in the market place.
What is expansion?
300
When a specific person or enterprise is the only supplier of a particular commodity.
What is a monopoly?
300
The market value of all final goods and services produced within a country in a given period.
What is gross domestic product (GDP)?
400
The situation in which the demand for a good are unaffected when the price of that good or service changes.
What is inelastic demand?
400
A period of economic decline marked by falling real GDP.
What is contraction?
400
A market form in which a market or industry is dominated by a small number of sellers that have the ability to affect the price.
What is an oligopoly?
400
The use of government expenditure and revenue collection (taxation) to influence the economy.
What is fiscal policy?
500
The total supply of goods and services that firms in a national economy plan on selling during a specific time period.
What is aggregate supply?
500
A putative tendency of a financial market to move in a particular direction over time.[
What is a market trend?
500
A form of coercive monopoly in which a government agency or government corporation is the sole provider of a particular good or service and competition is prohibited by law.
What is a government monopoly?
500
A decrease in the rate of inflation – a slowdown in the rate of increase of the general price level of goods and services in a nation's gross domestic product over time.