Macro Goals & Policy
The three overarching goals required to keep a national economy healthy and balance include Economic Growth, Full Employment, and this.
What is price stabilization?
The fundamental economic law that states when prices go down, consumers will buy more.
What is the Law of Demand?
A market structure featuring so many small sellers of identical products (like wheat or corn) that no single business controls the price.
What is Perfect Competition?
Modern companies leverage these smart tools and artificial intelligence to streamline inventory, speed up shipping, and personalize experiences.
What is Technology and Automation?
This famous slugger, known for having a "lazy" diet, went on to slug 714 homeruns, which earned him the nickname "The Sultan of Swat".
Who was George Herman "Babe" Ruth?
The total market value of all final goods and serviced produced within a country in a single year. The US value of this exceeds $27 trillion.
What is Gross Domestic Product? (GDP)
According to the Law of Supply, businesses want to produce more goods when market prices do this.
The market structure where many businesses sell similar products but differentiate themselves through unique branding, design, or local appeal (ex: local pizza places or burger joints).
What is Monopolistic Competition?
Step 1 in business evolution: traditional storefronts where all purchases originally took place in person.
What is Brick & Mortar?
In 1997, Major League Baseball universally retired this jersey number across every team in the league to honor Jackie Robinson and his role in breaking the color barrier.
What is 42?
Managed by the Federal Reserve, this policy tool controls interest rates and the money supply to guide economic growth?
What is Monetary policy?
The exact point on a graph where the supply line crosses the demand line, setting the agreed price between buyers and sellers.
An industry dominated by a small handful of giant companies with high entry barriers, such as smartphone manufacturers or major airlines.
What is an Oligopoly?
Step 2 in business evolution: The rise of internet websites allowing consumers to order products directly to their homes.
What is e-commerce?
This Hall of Fame hurler holds the all-time record in MLB for strikeouts (5,714) as well as career no-hitters thrown.
Who is Nolan Ryan?
Managed by Congress and the President, this policy uses spending and tax policy adjustments to guide the economy.
What is Fiscal policy?
A viral social media trend, rising worker wages, or changing consumer preferences will cause this curve to shift?
A market structure where a single company controls the entire market with zero competition, often requiring heavy government regulation (ex: city water utilities).
What is a Monopoly?
Step 3 in business evolution: instant shopping enablement anytime, anywhere via smartphones and mobile apps?
What is Mobile First?
This 'club' is famous for having only 6 players to ever reach this milestone, with the most recent being Shohei Ohtani in 2024. To be in this 'club', the members must hit this amount of homeruns and steal this amount of bases.
What is the 40-40 club?
When the Federal Reserve lowers interest rates, borrowing money becomes cheaper, directly encouraging businesses to take this action.
What is expanding, investing, or hiring more workers?
Upgrading to better factory machinery allows suppliers to build products faster and cheaper, increases this market factor.
The main obstacle that makes entering an Oligopoly industry extremely difficult for new startups.
What are huge startup costs?
Step 4 in business evolution: personalized AI shopping experiences that seamlessly blend physical and online retail spaces.
What is AI Omnichannel?
This award is awarded to the best defender at each position every single year, which has led to some controversy amongst baseball fans and statisticians.
What is the Gold Glove?