Consequences of Capitalism
When one company controls or dominates an industry or market leading to huge profits
Monopoly
This is the situation where individuals who are able and willing to work are unable to find employment, and are actively seeking jobs.
Unemployment
An economic system where private individuals or businesses own resources and operate for profit with minimal government interference.
Capitalism
an agreement where you borrow money or acquire goods/services with the understanding that payment will be made later.
Credit/Loan
a tax on an import from another country
Tariffs
a severe and prolonged downturn in economic activity, characterized by a sharp decline in GDP, increased unemployment, and widespread financial hardship, often lasting for several years
Depression
when companies hire external providers or individuals to perform tasks or services instead of doing them in-house
Outsourcing
The 18th-century economist who laid the foundation for capitalism in his book The Wealth of Nations.
Adam Smith
a spending plan that outlines your income, expenses and other financial goals like savings, spending and debt paydown
Budgeting
a group or organization of workers who join together to negotiate pay, benefits, scheduling and other workplace policies and conditions.
Union
a period of significant and widespread economic decline, typically lasting longer than a few months, characterized by decreased economic activity, job losses, and potentially lower wages
Recession
the difference in how income and wealth is distributed unevenly among the population
Income Inequality
the fundamental economic concepts that describe the relationship between the quantity of a good or service available in a market and the desire of consumers to purchase it
Supply and Demand
The annual cost of a loan to a borrower that is usually expressed in a percentage
Interest Rate
What is Mr. Dorso's favorite animal?
Shark
When a family has been considered impoverished for two or more generations, often experiencing illiteracy, lack of land ownership, lack of education, and lack of job stability.
Generational Poverty
the increasing interconnectedness of world's economies, cultures, and societies through trade and technology
Globalization
This is the practice of eliminating taxes and tariffs in order to maximize trade.
Free Trade
a savings account that holds a fixed amount of money at a fixed interest rate for a fixed period of time, such as six months, one year, or five years
CD Fund (Certificate of Deposit)
An interest rate that changes over time depending on the market, the value of the dollar among other things
Variable Rate
a discriminatory practice where financial services, like mortgages and insurance, are denied or made inaccessible to residents of certain areas, often based on the racial or ethnic makeup of the neighborhood.
Redlining
This was the late-19th century belief which falsely applied natural selection and survival of the fittest to the rich and poor classes as a justification for social position, power, and policy.
Social Darwinism
Adam Smith's concept that individuals' pursuit of self-interest naturally benefits society by meeting the needs of the people through market competition.
Invisible Hand
A loan that is backed by assets which can be taken if you don't pay back your loan, usually have a lower interest rate.
Secured Loan
What is the total National Student Loan Debt at as of 2025?