Show:
Good and Services
Supply and Demand
Decision Making Process
Economic systems
Business Cycles
100
Something that is required for survival
What is Need
100
In your own words describe Supply
What is Product/ the ability to delivery a service or product
100
In this step you evaluate your decision of the product or service
What is Study.
100
Here, people get promoted, get paid overtime
What is Mixed
100
Business Cycle. Low interest rates, No jobs, closed businesses.
What is Depression
200
Something that you desire and is not necessary for survival
What is want
200
In your own words describe demand
What is the want of something and how fast
200
In this step you decide you needs and wants
What is Specify
200
You only work for what you need, and you produce what you want
What is Traditional
200
Name a business cycle. New businesses are rising, people are starting to go to work
What is Recovery
300
What is this an example of? A teacher teaching in a classroom
What is Service
300
When the supply is more than the amount demanded.
What is Surplus
300
Under this step you compare your options
What is Sift
300
You produce and work for the goverment
What is Command
300
Creating more money is an example of ?
What is Monetary policy
400
What is this an example of? A Salesman selling cars
What is Product/Good
400
When the supply is less than the amount demanded.
What is Shortage.
400
Business Cycles- Describe what the CPI Measures
What is Inflation. Things going up or down- products
400
Spending and taxing policies used by the government to influence the economy is an example of?
What is Fiscal policy
500
the loss of potential gain from other alternatives when one alternative is chosen.
What is opportunity Cost
500
In your own words describe why would a store want to reach equilibrium. This is the intersection of supply and demand curbs.
What is You don't want have to much of things and you also want people to want and buy that product.
500
Business Cycles- In your own words describe what the GDP measures Gross Domestic Product
What is the state of the economy- how much the government spends on the country
500
Give one example of the three economic systems
What is N. Korea, U.S. Tribe
500
Describe three characteristics of Prosperity
What is High interest rates, Profitable, low unemployment