Economic Decision Making
Economic Systems
Money
Macroeconomics
Personal Finance
100
If you chose between a hotdog and pasta at lunch time, the one you do not choose is called THIS.
What is the opportunity cost?
100
The three basic economic questions are what to produce, how to produce it, and.....
What is "for whom"?
100
Economies without money use THIS inefficient form of exchange, which requires consumers to trade their goods for someone else's goods.
What is barter?
100
When the money supply increases too quickly, THIS may result.
What is inflation?
100
A debit card uses money from your own bank account while a credit card is THIS
What is a loan?
200
Every decision involves trade-offs because of this economic concept.
What is scarcity?
200
THIS economic system is characterized by custom, agriculture, and resistance to change.
What is a traditional economy?
200

Uniformity of currency means that it is a. easily divided.

accepted by everyone in society.

200
This economic indicator measures the final sale price of all goods/services produced within a country.
What is Gross Domestic Product?
200
Unlike a savings account, investing money involves THIS
What is risk?
300

The vast difference seen in prices of certain essential goods and non-essential goods.

What is paradox of value?

300

manufactured goods needed to produce other goods and services are called

What is capital goods?

300
Banks can increase the money supply or "create" money by doing THIS:
What is lend out money?
300

The product of cereal and the product of milk are what kind of goods

What is complements?

300

Most investments pay off later, meaning they are what kind

What is long term investments?

400
A factory building, the desks in a school, and an oven in a pizza shop are all examples of THIS type of resource...
What is physical capital?
400

If demand decreases, the chart will shift to the ____.

What is left

400

A swiss army knife has low _______ utility because you only need one

What is marginal?

400

Something that is NOT an advantage of a price-based system?  

What is prices can easily be set by the government

400
Stockholders make money when the company that issued the stock pays THIS
What is a dividend?
500

When work is split between workers this is called

What is division of labor?

500
Goods/services that are shared by everyone but provided for by the government are called THIS.
What are public goods/services?
500
The purpose of THIS institution is to give consumers confidence in the banking system and make sure they don't lose their money if banks fail.
What is the FDIC?
500

If price drastically increases or decreases with demand then it is considered

What is elastic?

500
THIS investment tool combines stocks and bonds to create a diversified investment portfolio that is less risky than stocks, but grows faster than bonds.
What is a mutual fund?
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