Supply & Demand Showdown
This law states that as price increases, quantity demanded decreases.
What is the law of demand?
This is the primary function of money used to buy goods and services.
What is exchange?
A cowboy rides into town on Friday, stays for two days, and leaves on Friday. How is this possible?
What is the horse's name is Friday
Money you earn from working at a job.
what is income
The percentage of people in the workforce who don’t have a job but are looking for one.
What is The Unemployment rate
A shift to the right in the demand curve means this has happened.
What is an increase in demand?
Rising prices over time is known as this.
What is inflation?
Money you borrow and must pay back, usually with interest.
what is a loan
This measures the total value of all goods and services produced in a country in a year.
What is GDP
When quantity supplied equals quantity demanded, the market is at this point.
What is equilibrium?
This institution controls the money supply in the United States.
What is the Federal Reserve?
A plan for how you will spend and save your money.
what is a budget
This happens when a product’s price is set below equilibrium, causing shortages.
What is a price ceiling?
This type of account typically earns interest but limits how often you can withdraw money.
What is a savings account?
Alongside the iPhone 7, this product was released in December of 2016
What is Airpods
Money set aside that earns interest over time.
what is savings
When the economy grows for several months in a row, this is happening.
What is an expansion
This term describes how responsive quantity demanded is to a change in price.
What is price elasticity of demand?
This policy involves changing government spending and taxes to influence the economy.
What is fiscal policy?
This object changes colors and is designed to explain 3D geometry and mathematical permutations.
What is a Rubik's Cube
This type of investment pool allows many people to combine their money to buy stocks, bonds, or other assets, spreading out risk.
what is a mutual fund
A measure of how much people are spending versus saving, used to predict economic trends.
What is consumer confidence?