Section1
Section 2
Section 3/nature of capitalism
Section 4
Capitalism a love story
100
Occurs when people's wants are greater than the resources available to satisfy their wants.
What is Scarcity
100
A situation in which more of one thing neccesarily means less or something else.
What is trade-off
100
Putting your money to work. Investing on something to produce more of that investments.
What is capitalism
100
The payment to the resource labor...
What is wages
100
An agreement that the seller of the CDS will compensate the buyer in the event of a loan default. The buyer of the CDS makes a series of payments (the CDS "fee" or "spread") to the seller and, in exchange, receives a payoff if the loan defaults.
What is Credit Default Swap
200
The most valued opportunity or alternative you give up to do something: Hint: making choices.
What is Opportunity Cost
200
An economy in which economic actions taken anywhere in the world may affect an individual's standard of living......
What is global economy
200
An explanation of how something works, designed to answer a question fro which thre is no obious answer
What is theory
200
Produced goods that can be used as resources for further production. Such things as factories, machines, and farm tractors.
What is capital
200
A group of workers who form an organization to defend the rights of employees in an institution.
What is labor union
300
A means for deciding who gets what portion of the available resources and goods.
What is rationing device
300
The branch of economics that deals with human behavior and choices as they relate to relatively small units- an individual, a business firm or a single market....
What is microeconomics
300
when public institutions are turned into a private company.
What is privatization
300
The payment to the resource capital....
What is interest
300
means making loans to people who may have difficulty maintaining the repayment schedule. These loans are characterized by higher interest rates and less favorable terms in order to compensate for higher credit risk.
What is Subprime
400
The sience that studies the choices of people trying satisfy thier wants in a world of scarcity....
What is economics
400
The branch of ecnomomics that deals with human behavior and choices as they relate to the entire economy..
What is macroeconomics
400
Society is run by 1% of the people and the other 99% have no say in this system.
What is plutonomy
400
An economic system in which government controls and may own many of the resources.
What is socialism
400
The company was going to be taken over by Bank of America in 3 days and they were not going to pay their employees their salaries or anything because they declared bankruptcy.
What is Republic Windows and Doors
500
A thing that we desire to have....
What is a want
500
Happens when people are not buying buying nor selling goods; factories are not being built, and there is a rate of unemployment.
What is sick economy
500
freedom to compete in the business government. Ruled by supply and demand, not restrained by the government interference or regulation.
What is free enterprise
500
The special talent that some people have for searching out and taking advantage of new business opportunities and for developing new products and new ways of doing things..
What is entrepreneurship
500
Discovered the polio vaccine and gave it up for free because he wanted it to be accessible to everyone in the world. No patent.
Who is Dr. Salk
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