Unit 1
Unit 2
Unit 3/4
Unit 4/5
Unit 6/7
100
A type of security that signifies ownership in a corporation and represents a claim on part of the corporation's assets and earnings.
What is Stocks?
100
Unlimited human wants in a world of limited resources.
What is Scarcity?
100
Households and firms' behavior in decision making and allocation of resources. Generally, it applies to markets of goods and services and deals with individual and economic issues.
What is Microeconomics?
100
Regional trade agreement ever negotiated by the United States with Mexico and Canada.
What is NAFTA?
100
Used to identify federal programs that got the name because workers became "entitled" to their benefits by paying into the system.
What is Entitlements?
200
It is a debt security, under which the issuer owes the holders a debt and, depending on the terms, is obliged to pay them interest.
What is Bonds?
200
Few restrictions are placed on business activities and ownership.
What is Free Enterprise?
200
The point where supply equals demand for a product.
What is Market Equilibrium?
200
The only global international organization dealing with the rules of trade between nations.
What is WTO?
200
A law requiring a deduction from paychecks and income that goes toward the Social Security program and Medicare.
What is FICA?
300
A government license that gives the holder exclusive rights to a process, design or new invention for a designated period of time.
What is Patent?
300
Type of economy in North Korea.
What is Communism?
300
The monetary value of all the finished goods and services produced within a country's borders in a specific time period.
What is GDP?
300
Trade of goods without taxes or tariffs.
What is Free Trade?
300
A legal proceeding involving a person or business that is unable to repay outstanding debts.
What is Bankruptcy?
400
A company's legal debts or obligations that arise during the course of business operations.
What is Liability?
400
Gives Congress the power to collect taxes on income without apportioning it among the states.
What is 16th Amendment?
400
Sustained increase in the general price level of goods and services in an economy over a period of time.
What is Inflation?
400
A generally accepted form of money.
What is Currency?
400
The act or practice of manufacturing a variety of products, investing in a variety of securities, selling a variety of merchandise, etc., so that a failure in or an economic slump affecting one of them will not be disastrous.
What is Diversification?
500
Skilled, unskilled/ blue, white-collar worker/ screening effect, learning effect.
What is Types of Labor?
500
Quantity demanded is greater than quantity supplied.
What is Shortage?
500
Expansion, Peak, Recession, Through.
What is Business Cycle?
500
Commodity, Fiat, Representative.
What is Types of Money?
500
The ability to convert an asset to cash quickly.
What is Liquidity?
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