History of Economics
Supply
and Demand
and Demand
Business
Must Be The
Money
Money
Fun!
100
The "father" of capitalism
Who is Adam Smith?
100
The amount of a product that purchasers are willing to buy at a certain price.
What is demand?
100
A business that is owned by one person.
What is sole proprietorship [ownership]?
100
The place in New York City where stocks are exchanged
What is Wall Street?
100
One of the most important factors in the economy
What is the consumer [buyer]?
200
The book that outlined the rules and laws of capitalism.
What is The Wealth of Nations?
200
The amount of a product that sellers are willing to offer for sale at a certain price.
What is supply?
200
A business that is owned by at least two people.
What is a partnership?
200
What is the single most valuable resource in the world?
What is human capital?
200
The investment that an entrepreneur puts into a new project or business
What is capital?
300
The government allows the market to regulate itself while being guided by ____________ ________.
What is the invisible hand?
300
When the price people are willing to buy a product equals the supply that sellers are willing to provide at that price. 
What is equilibrium?
300
A business is owned by one or more people, but it's itself a legal unit.
What is a corporation?
300
The direct swap of goods and services for other goods and services, without the use of money.
What is barter?
300
The process of selling the best goods and services to consumers, and to attract the best workers.
What is competition?
400
A tax imposed on imports and is designed to support domestic producers, but they result in higher prices for consumers.
What is a tariff?
400
When the supply exceeds the demand for a product.
What is a surplus?
400
Shares of ownership of the corporation
What is stock?
400
The process through which a government or a person sets out its spending plans and tax measures
What is a budget?
400
The term refers to the extension of loans to individuals, companies, or organisations. The term is also used more generally to refer to the total amount of debt in an economy.
What is credit?
500
When expenses that cannot be recouped
What is sunk cost?
500
When the demand for a product exceeds the supply.
What is a shortage?
500
Who is responsible for the debts of a company?
The company is responsible for its own debts, not the shareholders.
500
What you have to give up to buy what you want in terms of other goods or services
What is opportunity cost?
500
Money borrowed from someone else, whether a bank, a company, or a person.
What is debt?