Basic Econ/S&D
The study of how people choose to use limited resources is called...
What is Economics?
Comparative advantage is determined by...
What is lower opportunity cost?
The most common form of business ownership in the United States is the...
What is sole proprietorship?
The Consumer Price Index (CPI) is used to measure...
What is inflation?
A budget is best described as...
What is a plan for saving and spending money?
When price is above equilibrium this creates this economic condition...
What is a surplus?
A tariff is a tax on...
What are imports?
In terms of liability Stockholders in a corporation have...
What is limited liability?
Full employment does NOT mean...
What is 0 unemployment?
A deductible in insurance is...
What is the amount you pay out-of-pocket before insurance pays?
The fundamental problem of economics is...
What is scarcity?
The main purpose of a protective tariff is to...
What is protect domestic industry?
Unlimited liability means the owner is personally responsible for...
What is all business debt?
Cyclical unemployment is directly related to...
What is cyclical unemployment?
Transfer payments to hopeful college students that don't have to be repaid by the student?
What are scholarships and grants?
If consumers expect the price of new cars to drop next month, current demand for new cars will most likely...
What is Decrease?
Country X: 120 fish or 60 coconuts; Country Y: 100 fish or 80 coconuts. Which has absolute advantage in coconuts?
Who is Country Y?
The least represented type of business in the US is...
What is partnership?
Structural unemployment is caused by...
What is a Mismatch between skills and jobs or technology?
Which is generally the safest place to keep an emergency fund?
What is a savings account?
An increase in the price of leather will most likely cause the supply curve for leather jackets to...
What is shift to the left?
A tax that is 10% on the first $10,000 of income, 15% on the next $30,000, and 25% on income above that is...
What is a progressive tax?
This makes up most of the sales for business in the US...
What are corporations?
Which group is hurt most by unexpected inflation?
Who are people on fixed incomes?
Which type of loan usually has the highest interest rate? Mortage/Car loan/Credit card?
What is a credit card?