What is Economics: 1-3
Supply & Demand: 4-6
Market & Business Structure: 7-9
Money, Banking, Taxes, & Fiscal Policy: 10-15
FED, Int'l Trade, and Personal Finance: 16-17
100
Who is responsible for pulling together land, labor, and capital?
What is an Entrepreneur?
100
What phenomena happens when the price of beef goes up and people replace it with chicken?
What is Substitution?
100
In this market structure one company dominates.
What is a monopoly
100
We file income taxes on this date.
What is April 15th?
100
This group runs the FED.
What is the Board of Governors
200
How do companies that invest in human capital benefit from it?
What is increased production?
200
What happens to demand, if price rises?
What is a decrease in demand
200
Firms that wish to incorporate must file for this state license.
What is a Certificate of Incorporation?
200
This occurs when a government increases spending without raising taxes.
What is a deficit?
200
This occurs when you are unable to pay your debts
What is bankruptcy?
300
What feature allows a business to challenge each other in order to win over customers, which also benefits workers and consumers?
What is competition?
300
What happens to the Supply curve when there is a large increase in supply?
What is a shift to the right
300
Corporations raise money by selling these.
What are stocks and bonds?
300
This kind of tax increases as our income increases.
What is a Progressive Tax?
300
This is the goal of the FED's monetary policy.
What is keeping the economy and unemployment stable?
400
What economic system allows for democratic government, yet maintains ownership of large industries and wealth distribution?
What is Socialism?
400
This occurs at the point where the Supply and Demand curves intersect.
What is Equilibrium?
400
This is the major difference between corporations and other business organizations.
What is a "legal entity"?
400
This occurs when prices increase.
What is inflation?
400
You get this when you finance a house.
What is a mortgage?
500
Who founded the Market System?
What is Adam Smith?
500
This occurs when the demand exceeds the supply.
What is a shortage?
500
These are the owners of corporations.
What are stockholders?
500
This is another name for a bank.
What is a financial institution?
500
This occurs when someone is able to produce more of a given product using a given amount of resource.
What is absolute advantage
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