Banks
Supply & Demand
Currency
Compliments and Substitutes
Costs
100
The fee that a bank will charge you when you take out a loan.
What is an interest rate?
100
This is how much of a product people want.
What is demand?
100
The "rate" at which one currency is valued at and traded for another.
What is an exchange rate?
100
Two things that when you buy one you also want to buy the other. For example oreos and milk or tires and a car
What is a compliment?
100
The value of something you give up when you choose the alternative
What is an opportunity cost?
200
The type of bank account where you borrow money and pay it back to the bank a month later.
What is a credit account?
200
This is how much of a product a business makes.
What is supply?
200
The search engine where you can compare two currencies to each other.
What is Google?
200
The cost
What is the one thing that affects substitutes?
200
Playing video games, working, etc
What are the opportunity costs to going to school?
300
The amount of money that you can borrow from the Federal Reserve bank so you can buy a house. (tricky)
Nothing! You can't borrow from the federal reserve!
300
This happens to demand when price goes up. Hint: Would you buy a burger that used to cost $1 for $10?
What is "demand goes down"?
300
The government-run central bank that controls the flow of money in the economy.
What is the Federal Reserve?
300
Less likely
If the economy is doing well and people are making more money will they be less or more likely to buy substitutes?
300
Total revenue minus costs
What is a profit?
400
The type of bank account that withdraws from your balance immediately upon purchasing something.
What is a debit account?
400
This happens to supply when price goes up. Hint: If you have more money, you can make more.
What is "supply goes up"?
400
The man that is on the US $20 bill.
Who is Andrew Jackson?
400
For David VHS and DVDs are substitutes while popcorn and these are compliments.
After the price of DVDs decreases, David buys more popcorn and VHS tapes. Therefore what is the relationship of DVD VHS tapes and popcorn.
400
$1.00
How much should you charge for lemonade on a very hot day to gain the largest profit? $0.25, $0.50 or $1.00
500
The corporation that will insure you due to a bank failure.
What is the FDIC? (Federal Deposit Insurance Corporation)
500
This happens to the demand of lemonade when it rains. Hint: Remember the lemonade stand game.
What is "demand goes down"?
500
The federal reserve does this in order to stimulate the economy and have more bills in circulation.
They will print more money!
500
If demand increases then the good will cost more and therefore people will be more willing to buy its substitute.
What is going to happen if demand of a good increases, and therefore the prices rise, if the good is a substitute?
500
Machinery, labor, land, etc.
List 3 things that would be considered "costs" if you started your own company.
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