Show:
Basics
Supply & Demand
Macro
Employment
Ms. Sanine
100
The type of economy characterized by little freedom of choice.
What is command economy (socialism)?
100
The only thing that can change the quantity supplied.
What is price?
100
a macroeconomic period of expansion followed by a period of contraction
What is the business cycle?
100
Measurement for inflation.
What is CPI?
100
Ms. Sanine's favorite place in SLO
What is the beach?
200
The type of economy where the government has rules that businesses must follow but consumers have freedom of choice.
What is mixed economy?
200
Taxes and subsidies
What is change in supply?
200
Can never be recovered.
What is sunk cost?
200
You are replaced by robots on the assembly line so you have just become the victim of what type of unemployment.
What is technological unemployment?
200
Ms. Sanine's least favorite drink
What is chai tea? Ewww.
300
When a company pollutes the stream next to it and it contaminates the neighbor's water.
What is an externality?
300
change in prices of substitutes
What is change in demand?
300
has its facilities (for manufacturing, sales, and/or services) in at least one other foreign country
What is a multinational corporation?
300
When the union negotiates with the employer on behalf of the workers.
What is collective bargaining?
300
The breed of dog Ms. Sanine has.
What is a weimaraner?
400
The classic trade off a country must make between these two goods as demonstrated by the PPF.
What is guns and butter?
400
When quantity supplied is greater than quantity demanded.
What is a surplus?
400
when a person or country can produce something at a lower opportunity cost than another
What is comparative advantage?
400
When almost everyone has a job. The unemployment rate is about 2-6% ( the “natural rate of unemployment”).
What is full employment?
400
Ms. Sanine's least favorite type of music.
What is Christmas music?
500
The three basic economic questions.
What goods and services should be produced? How should these goods and services be produced? Who consumes these goods and services?
500
Also known as the market clearing price.
What is market equilibrium?
500
The ideal annual rate of inflation.
What is 2%?
500
An electrician is categorized as this type of labor.
What is skilled (blue collar)?
500
Ms. Sanine's birthday.
What is January 5th?