Money, Money, Money
Supply & Demand
Determinants of S & D
Terms
Random
100
Economically it is defined as what it takes to produce a good or service.
What is Cost?
100
NOT the "quantity on hand," but instead the willingness to sell a specific good at a given time for any given price.
What is Supply?
100
There are this many primary determinants of Demand.
What is four (4)?
100
"What people think will happen" (whether or not they are great).
What are Expectations?
100

She is the current First Lady of the United States.

Who is Melania Trump?

200
It is the measure of benefit gained from a good or service, and can vary time to time and person to person.
What is value?
200
It is the price at which the quantity of a good demanded equals the quantity supplied.
What is Equilibrium Price?
200
Simply put, it means consumer preferences - and there is sometimes no accounting for it.
What is taste?
200
"The willingness to BUY specific quantities of a good at different prices at a given time."
What is Demand?
200

While 1 in 10 Americans are allergic to this domesticated animal, 1 in 10,000 of them are allergic to humans.

What are cats?

300
Money is defined by its functions - a medium of exchange, a unit of accounting, and this.
What is "a store of value"?
300
In creating Supply and Demand Curves, this is the Independent Variable (and left side of the graph).
What is Price?
300
More than just computers, this determinant of supply refers to any process or tools used to turn inputs into outputs.
What is technology?
300
"A credit or payment from government to either Consumer or Producer in a transaction."
What are Subsidies?
300

The odds of getting one of these in Poker (the best hand you can get) are 1 in 649,740

What is a Royal Flush?

400
Economic Goals are divided up and defined based around these three distinct groups.
What are Consumers, Businesses, and Government?
400
This Law states "The Quantity of a good Produced increases as its price increases."
What is the Law of Supply?
400
These two determinants affect both Supply AND Demand.
What are Substitutes and Expectations?
400

"Self-Interest" is defined as, "Maximizing our own interests, whether they be" these two things.

What are happiness or profit?

400

Strangely, this mythical creature is the national animal of Scotland.

What is the unicorn?

500

In history many things have been used as "money," including this edible mineral - but do I still call that sweet?

What is salt?

500
This company intentionally created a shortage with the release of its product in 2006 , in order to increase the entire demand curve (and consumers cried "weee weee wii.")
What is Nintendo?
500

Strangely, as income INCREASES the sales of this common, cheap food staple DECREASE - whether in bowls, cups, or eaten "raw."

What are ramen noodles?

500
"Lacking consideration for others" (NOT the same thing as self-interest).
What is Selfish?
500

On this day in 1994 the Magellan Spacecraft burned up in the atmosphere of this volcanic planet (and it didn't feel the love).

What is Venus?

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