Supply and Demand
The quantity of a good offered for sale by producers
What is Supply?
A place where shares of public companies are traded
What is Stock Market?
The means by which societies or governments organize and distribute available resources, services, and goods across a geographic region or country
What is Economic System?
measures the value of economic activity within a country
What is GDP?
a tax in which the tax rate increases as the taxable amount increases
What is Progressive Tax?
The quantity of a good desired by consumers
What is Demand?
The ownership of a corporation divided up into units, so that multiple people can own a percentage of a business
What are Shares?
The 3 major economic systems.
What is Free Market, Command Economy, and Mixed Economies?
Consumption + Investment + Government Spending + (Exports - Imports)
What is the GDP formula?
a tax imposed such that the effective tax rate seems to decrease as the tax bracket increases
What is Regressive (“Flat”) Tax?
Maximize benefits and minimize costs
What is Cost and Benefit?
Affected by economic growth, recessions, inflation, interest rates, currency fluctuations
What is Volatile?
prices are determined by unrestricted competition between private businesses.
What is Free Market?
Gross Domestic Product
What does GDP stand for?
main source of income for the government
What are taxes?
The profit/utility lost when picking one opportunity over another
What is Opportunity Cost?
The goal of stock trading is to buy shares at a low price and sell them at a higher one, keeping the difference as your profit!
What is "Investors buy and sell shares of companies in real time"?
production, investment, prices, and incomes are determined centrally by a government.
What is Command Economy?
21.43 trillion
What is the GDP of the United States?
4 different types of taxes
What are sales, income, property, corporate, gift taxes (Any other type of tax is also applicable)?
When prices rise over time
What is Inflation?
Investing in any company is risky
What is High-Risk High-Reward?
some blend of market and government driven forces
What is Mixed Economy?
a metric that breaks down a country's economic output per person and is calculated by dividing the GDP of a country by its population
What is GDP per capita?
Companies may hire more people, and there will be less unemployment as a result
What is a benefit of lowering taxes?