Supply and Demand
Models of Competition
Unemployment
Business Cycle
Random
100
As income goes up, the consumption of these goes up as well.
What are normal goods?
100
This is where there are a few large industrial sellers who sell products in the same industry.
What is an oligopoly?
100
This is percentage of people that are not working, but actively looking for work.
What is the unemployment rate?
100
This is he phase of the business cycle when the economy moves from a trough to a peak. It is a period when business activity surges and gross domestic product expands until it reaches a peak.
What is expansion?
100
This is the study of the economy as a whole. It examines unemployment, national income, rate of growth, gross domestic product, inflation and price levels.
What is macroeconomics?
200
This is when price is established where quantity demanded equals quantity supplied?
What is equilibrium?
200
This is when there are any number of buyers and sellers that are free to enter and leave the market and have no affect on price.
What is pure competition?
200
An example of this is when a computer programer leaves his/her to move to Florida.
What is frictional unemployment?
200
This is the value of all the finished goods and services produced within a country's borders in a specific time period.
What is GDP?
200
This is the basic economic problem.
What is scarcity?
300
This is the amount of product that people are willing to buy at a certain price?
What is quantity demanded?
300
This is where product differentiation is based on design and not prices.
What is monopolistic competition?
300
An example of this is a person who picks lettuce and does not have work during the winter.
What is seasonal unemployment?
300
This is the stage of the economy's business cycle that marks the end of a period of declining business activity and the transition to expansion.
What is a trough?
300
This is the benefit that one could have received by taking an alternative action.
What is opportunity cost?
400
This is the increase of price that causes a decrease in the quantity demanded.
What is Law of Demand?
400
This is where a single group or company has control over an entire market.
What is a monopoly?
400
This is when the skills the worker does not meet the demand of the labor force.
What is structural unemployment?
400
This is the recurring and fluctuating levels of economic activity that an economy experiences over a long period of time. The five stages of the this are growth (expansion), peak, recession (contraction), trough and recovery.
What is the business cycle?
400
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 a stock?
500
As income goes up, the consumption of these goes down?
What are inferior goods?
500
In the U.S. there are different types of this such as natural, geographic, technological, and government granted.
What are near monopolies?
500
This is the specific level of unemployment that exists in an economy that does not cause inflation to increase.
What is the NAIRU?
500
This is a period when business activity surges and gross domestic product expands until it reaches a peak.
What is expansion?
500
This is a market transaction in which an investor sells borrowed securities in anticipation of a price decline and is required to return an equal number of shares at some point in the future.
What is a short sale?
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