Transferring ownership of a business from the public sector (government) to the private sector.
What is Privatization?
100
Anything that is used to produce goos or services.
- land, labor, capital, entrepreneurship
What is reasource?
100
The idea that explains why humans have a native inability to pay attention to economic principles.
What is people's priority list?
100
To take the property of another without right or permission
What is stealing?
100
The richest man on the earth.
Who is Carlos Slim?
200
A life insurance policy on employees, where the beneficiary is the employer not the family.
What is Dead Peasants?
200
When you choose a sweater instead of two comapct discs.
What is opportunity cost?
200
The author of the book “Eat the rich”
Who is O'Rourke?
200
Paul F. studied through calculations that defined the amount of bagels sold and the income he received by measuring.
What is people’s honesty?
200
Slim's nationality.
Who is Mexican/ Lebanese?
300
5% of the people have all the power
What is Plutonomy?
300
The science that studies the choices of people trying to satisfy their wants in a world of scarcity.
What is economics?
300
Era when the globalization affected the whole world, everything was imported except oil, one day you couldn't buy oil for money not because there wasn’t money but it just didn't happen to be worth anything.
What is the 70’s economics ideas?
300
Concluded a fixed rate in offices where people get along with their bosses .
What is high payment rate?
300
The name of the museum created by Slim.
What is Museo Soumaya?
400
A contract between parties based on an underlying value. 1.forward or future
2.option
3.swap(which is based on interest rate)
What is Derivatives?
400
The condition in which our wants are greater than the resources available to satisfy those wants.
What is scarcity?
400
Book that O’Rourke disagrees on its ideas and criticizes harshly because its ideas are very confusing.
What is Paul A. Samuelson's book "Economics"?
400
Conditions that affect the payment regardless of the place where you are selling.
What is weather and holidays?
400
Slim's fortune (amount).
What is $53.5 billion?
500
An insurance between a bank and a financial institution. The difference is it has a collateral in exchange for a premium.
What is Credit Defult Swap?
500
A means for deciding who gets what portion of the available resources and goods.
What is rationing device?
500
Name of the first chapter.
What is Good Capitalism?
500
Conditions that affect the payment regardless of the place where you are selling.