When a company doesn't have enough raw materials to supply the demand
100
A stock of a resource from which a person or place can be provided with the necessary amount of that resource.
What is supply
100
This is the monetary value of all the finished goods and services produced within a country's borders in a specific time period.
What is Gross Domestic Product (GDP)
100
A form of economics allowing the economy to take its natural course, not applying any polices in order to fix it.
What is classical economics
100
The price of a nation’s currency in terms of another currency.
What is foreign exchange rates
200
What you give up to get something. Like an investment
What is opportunity cost
200
An economic theory stating that there is a direct relationship between price and quantity. When price level increases this makes quantity increase.
What is law of supply
200
All domestic final goods and services
What is included in GDP
200
Economic theory involving government to apply specific policies such as government spending in order to strengthen the economy.
What is Keynesian economics
200
An increase in the value of one currency in terms of another. The value of a certain currency increases due to another currency decreasing in value.
What is appreciation of a currency
300
If person, company, or country is more efficient at producing the same good or service than another company.
What is absolute advantage
300
Number of sellers
Technology
Resource Prices
Taxes and Subsidies
Expectations of Producers
Prices of Other Goods the Firm Could Produce
What is supply shifters
300
Goods and services produced outside a nation's boundaries by the nation's own citizens and firms
What is excluded from GDP
300
The total supply of goods and services produced within an economy at a given overall price level in a given time period.
What is aggregate supply
300
Countries with weak economic fundamentals such as chronic current account deficits and high rates of inflation generally have...
What is depreciation of currency
400
The benefit or advantage of an economy to be able to produce a commodity at a lesser opportunity cost than other entities
What is comparative advantage
400
An economic principle that describes a consumer's desire and willingness to pay a price for a specific good or service.
What is demand
400
An economic statistic that includes GDP, plus any income earned by residents from overseas investments, minus income earned within the domestic economy by overseas residents.
What is Gross National Product (GNP)
400
The total amount of goods and services demanded in the economy at a given overall price level and in a given time period.
What is aggregate demand
400
In terms of foreign exchange this component increases the countries foreign investment appeal...
What is higher interest rates
500
Land, Labor, Capital, Labor
What is factors of production
500
A law stating that as the price of a good or service increases, consumer demand for the good or service will decrease
What is law of demand
500
An inflation-adjusted measure that reflects the value of all goods and services produced in a given year
What is real GDP
500
The means by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy.
What is fiscal policy
500
If a Canadian dollar is worth .75 cents of an American dollar, how many Canadian dollars can be purchased with one American dollar?