GENERAL
What is UP?
The Law of Demand.
What is - as price increases, demand decreases?
When an economy is growing, it is in which stage of the business cycle?
What is expansion?
The value of all goods and services produced in a country during a specific period of time.
What is GDP?
He is called The Father of Capitalism.
Who was Adam Smith?
An increase in income, substitute effect, complementary effect or a shift in attitude.
What are factors that affect Demand?
A positive, growing stock market.
What is a Bull Market?
The branch of economics that studies the behavior of individuals and individual companies.
What is Microeconomics?
When there is not enough of a product or service.
What is a shortage?
The point in the business cycle when an economy stops contracting.
What is a trough?
A place where stocks are bought and sold.
What is a stock market?
The study of the entire economy.
What is Macroeconomics?
This is when there is too much of a product.
What is a surplus?
When hot dogs become too expensive, consumers will stop buying them, and they will also stop buying hot dog rolls.
What is the complementary product effect?
stock market, new housing starts, Unemployment rate, GDP, Inflation rate...
What are Economic Indicators?
A piece of ownership in a company.
What is a stock?
He was considered the "Father of Communism."
Who was Karl Marx?
The amount of a product or service that is produced or provided.
What is supply?
When chicken becomes too expensive, consumers will buy a different type of meat.
What is the substitute effect?
The four factors of production.
What is land, labor, capital, entrepreneurship?
A negative, declining stock market.
What is a Bear Market?