Show:
Law and Order
Producers and Decision Making
Supply/Demand, Business
Personal Finance
Mixed Bag
100
A person accused of a crime would find themselves in this type of trial.
Criminal Trial
100
Improving this means to produce goods/services faster and more efficiently.
Productivity
100
If the economy suffers two consecutive quarters of decline, the economy is suffering this.
Recession
100
A bank makes money by charging this when offering someone a loan. It continues to accumulate until someone pays off the loan entirely.
interest
100
an index of prices used to measure the change of cost to purchase goods and services
(CPI) Consumer Price Index
200
The highest court in the land
Supreme Court
200
the amount of goods and services that producers are able and willing to sell at various prices
Supply
200
The idea that your money is worth less over time. Ex.) a candy bar cost $.50 in 1990 and is now $1.09
inflation
200
the debt acquired by the federal government by borrowing money
national debt
300
A person in a civil trial who is accusing someone of wrongdoing is known as this.
plaintiff
300
not having enough resources or products the wants and needs of the people; the main problem of economics
scarcity
300
situation in which quantity supplied is greater than the quantity demanded
surplus
300
A long term loan someone receives when buying a home.
Mortgage
300
the factor of production that consists of the "brain power" behind production. The idea, the risk taking involved.
entrepreneurship
400
When a jury cannot reach a verdict.
hung jury
400
the cost of the next best use of time and money when choosing to do one thing rather than another
opportunity cost
400
In a free market economy, with little government regulation, this force guides what producers charge for a particular good or service.
the invisible hand
400
This type of bank account allows someone to access their money "on demand"
checking account
400
means "hands off" and represents how a market economy has very little government regulation
laissez faire
500
When a case is heard for a second time it is usually taken to this court.
Court of Appeals
500
The cost of producing "one more" unit
Marginal Cost
500
the total market value of all the goods and services produced with the borders of a nation during a specified period
(GDP) Gross Domestic Product
500
A type of student loan where interest does not accrue while you are at school
subsidized loan
500
a type of economy where the government is heavily involved and may own the factors of production and set prices.
command economy