Show:
Overall Concepts
Macroeconomics
Microeconomics
Imperialism
100
The unavoidable consequnce of unlimited human desires and limited resources
What is scarcity
100
Short-run economic fluctuations
What are business cycles
100
A market that consists of many well informed buyers and sellers of a service
What is a competitive market
100
The political domination of one country by another
What is imperialism
200
The two branches of economics
What is macro/microeconomics
200
The category that includes government taxation and spending
What is fiscal policy
200
Interventions of the government on a market
What are price controls and/or taxes
200
The fields of technological advances that helped the Europeans expand
What are shipbuilding/navigation/weapons
300
The cost of getting something
What is opportunity cost
300
Includes the central bank's management of hte money supply
What is monetary policy
300
How susceptible demand and supply are to change
What is elasticity
300
The war in which, afterwards, several major imperial possessions were granted independence
What is World War II
400
An assumption of economics, about how people should behave
What is rationality
400
The summary measure of production used by most economics
What is GDP (Gross Domestic Product)
400
The balance of supply and demand (that cannot be reached; it is theoretical)
What is market equilibrium
400
A way of seeing history where we subtract the effects of imperialism
What is counterfactual history
500
The branch of economics that focuses on individual behavior
What is microeconomics
500
The trade-offs between current and future consumption, as reflected by the accumulation of physical and human capital
What is the financial market
500
The cases in where a single supplier supplies all the goods, several suppliers supply all the goods, AND what concept they are included in.
What are monopoly, oligopoly, and imperfect competition
500
The three important changes that transformed European relations with the rest of the world
What are the Industrial Revolution, American Revolution, and decolonization