property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
What is Assets
100
the state of being in short supply; shortage.
What is scarcity
100
a branch of economics that studies the behavior of individuals and small impacting organizations in making decisions on the allocation of limited resources
What is microeconomics
100
Overseeing nations open markets.
What is FOMC
100
the belief that one is inherently deserving of privileges or special treatment.
What is entitlement
200
A type of security that signifies ownership in a corporation and represents a claim on part of the corporation's assets and earnings
What is Stock
200
an economic system in which private business operates in competition and largely free of state control.
What is free enterprise
200
the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
What is macroeconomics
200
The monetary value of all the finished goods and services produced within a country's borders in a specific time period,
What is GDP
200
is the federal law that requires you to withhold three separate taxes from the wages you pay your employees.
What is FICA
300
a government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention.
What is patent
300
a Scottish moral philosopher, pioneer of political economy, and key Scottish Enlightenment figure.
What is Adam Smith
300
a graph showing how the demand for a commodity or service varies with changes in its price.
What is demand curve
300
a general increase in prices and fall in the purchasing value of money.
What is inflation
300
refers to net additions of capital stock such as equipment, buildings and other intermediate goods. A nation uses capital stock in combination with labour to provide services and produce goods; an increase in this capital stock is known as
What is capital formation
400
A business entity that is granted tax-exempt status by the Internal Revenue Service.
What is non profit organization
400
a payment or concession to stimulate greater output or investment.
What is incentive
400
1) income, (2) tastes and preferences, (3) the price of related goods, (4) changes in expectations of future relative prices, and (5) population
What is non price determinants of demand
400
exchange (goods or services) for other goods or services without using money.
What is barter
400
a certificate issued by a bank to a person depositing money for a specified length of time.
What is certificate of deposit
500
the state of being responsible for something, especially by law.
What is liability
500
abstention by governments from interfering in the workings of the free market.
What is laissez faire
500
when the whole curve shifts and a change in quantity demanded is movement along the demand curve due to a change in price. Price Doesn't shift the curve
What is change in demand
500
a system of money in general use in a particular country.
What is currency
500
an official investigation into someone's financial circumstances to determine whether they are eligible for a welfare payment or other public funds.