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Supply and Demand Category
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Potpourri
100
The intersection of the supply and demand curve.
What is the equilibrium point?
100
Workers stop working, putting pressure on employers to collectively bargain.
What is a strike?
100
Area where there is close access to high-paying jobs and cultural attractions.
What is the city?
100
This increases when prices drop or income goes up.
What is standard of living?
100
The high point in the business cycle where demand is up and unemployment is down.
What is a boom?
200
The demand for a good is lower than the supply of the good.
What is a surplus?
200
When immigration increases, this happens to wages.
What is decrease?
200
Area where there are high-paying jobs and more living space.
What is the suburbs?
200
A deep recession.
What is a depression?
200
They look at workers as both a resource and a commodity.
What is a producer?
300
A good that can be only used by one person.
What is an individual good?
300
Places workers on a more equal level with employers.
What is collective bargaining?
300
Looked at as both a home and an investment.
What is a single-family home?
300
New markets are created through this.
What is free trade?
300
Extremely high demand can cause this kind of inflation.
What is demand-pull inflation?
400
The fact that a car cannot tell what brand of gasoline put in it makes gasoline this type of good.
What is fungible?
400
These people keep strikes from affecting production.
Who are strikebreakers?
400
Since housing is expensive and time consuming to build the supply of it is considered this.
What is inelastic?
400
Makes imported goods more expensive.
What is a tariff?
400
The government using taxes to lower a budget deficit is an example of this.
What is fiscal policy?
500
This type of good is bought more as wealth increases.
What is a normal good?
500
This has lowered wages in the U.S. and caused outsourcing of jobs.
What is globalization?
500
Decreasing this monetary policy can increase home sales.
What is the mortgage interest rates?
500
Domestic producers can sell their good cheaper when the government provides this.
What is a subsidy?
500
Perfect balance of producing something with as little waste as possible.
What is optimal efficiency?