Types of economies
Atlanta would have a higher 1 of these than Greenwood
Standard of living
Economic activity outside the government regulation and taxation
Underground Economy
The rate in which prices for goods andservices rise
Inflation
What is the primary purpose of the poverty threshold?
Government benefits Elgibility
This elementary school that was once GHS
Davis
the act of introducing new ideas, products or methods
innovation
Economic system where the government controls all aspects of the economy
Command Econmy
When wages go up, the prices are gonna go up
Wage price spiral
The food stamp program is offered by
The Government
The Mayor of Greenwood
Carolyn McAdams
An economic system that relies on customs and history
Traditional Economy
A group of people living together and making joint economic decisions
Household
These are excluded by the core inflation rate
Food and energy prices
The amount a dollar can by
Purchasing Power
The new superintendent
Mrs. Johnson
18th century economist, Father of economics
Adam Smith
This are services provided by the government to help people in need
Safety net
When prices are falling over time
Deflation
The percentage of people in poverty is known as
The poverty rate
This place in Greenwood was once a slave graveyard
The City Park
The income earned by factors of Production such as wages for labor
Factor Payments
The financial gain that exceeds the price
Profit
The collection of goods and services used to measure price changes
Market Basket
Income that does not change
Fixed Income
Who is our state representative that was a city councilman
David Jordan