Economic Concepts
Tangible items that people want to buy.
What are goods?
An farm animal that NC is famous for producing.
What is a turkey or a pig?
The development of an increasingly worldwide economy.
What is globalization?
A continual increase in the price of a good or service.
What is inflation?
"Bouncing a check" is a common way of describing this action.
What is an overdraft?
Work that people perform for money.
What are services?
The furniture business is big in NC because of the abundance of ...
What are forests?
The Big Three businesses in NC that are now declining.
What are tobacco, furniture, and textiles?
This country has the second highest GDP next to the US.
Who is China?
A low risk investment wherein you allow a bank to keep your money for a time in exchange for interest paid.
What is a Certificate of Deposit? (CD)
A person who satisfies a need or want by purchasing a good or service.
What is a consumer?
Calabash, NC is famous for....
What is seafood?
The number of people who work in farming in NC has increased/decreased.
What is decreased?
The total value of goods and services in a country.
What is Gross Domestic Product? (GDP)
When stocks are combined into an account and managed for an investor.
What is a mutual fund?
A person who uses resources to provide goods or services.
Who is a produces?
Feldspar, granite, and phosphate are three examples of _____________ that are plentiful in NC.
What are minerals?
Places with large numbers of immigrants see improvement/decline in their economies.
What is improvement?
This economic indicator measures fluctuations in prices.
What is the Consumer Price Index? (CPI)
An investment wherein someone loans money to a government in return for interest paid.
What is a bond?
A limited supply of a certain resource or product.
What is scarcity?
Since NC has the most universities in the US, businesses consider that we have great ____________ resources.
What are human resources?
The period of US history where there was a great economic downturn was called...
What is the Great Recession?
The number of Americans who do not work and who are not looking for a job.
What is 7 million?
If you pay off credit debt in a timely manner, you increase and improve this.
What is a credit score?