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Name That Measure
Supply & Demand
Factors of Production
Economic Decisions & Systems
Economic Activity
100
The percentage of people in the labor force who are willing to work, are looking for work, but are unable to find work.
What is Unemployment Rate
100
When prices drop for a popular product, the ________ will go down as consumers buy the product.
What is Supply
100
Raw materials supplied by nature.
What is Natural Resources
100
A new flat-screen "smart" TV is an example of this.
What is a Need
100
An increase in prices and a decrease in the buying power of the dollar.
What is Inflation
200
The most widely used measure of national output.
What is Gross Domestic Product
200
When the ________ for a product is high, the price is likely to increase as well.
What is Demand
200
The means through which goods & services are produced.
What is Economic Resources
200
Having unlimited needs & wants but limited economic resources.
What is The Basic Economic Problem
200
A period in which unemployment begins to rise, demand begins to decrease, and businesses lower their production.
What is A Recession
300
The total dollar value of all final goods & services produced each year in a country.
What is Gross Domestic Product
300
If freezing weather damages orange crops in Florida, the price of oranges will__________
What is Increase
300
People producing goods & services.
What is Human Resources
300
Forces businesses to search for new ways to satisfy customers' needs & wants, and increase product quality.
What is Competition
300
A phase represented by an increase in employment, demand for goods, and the GDP.
What is Recovery
400
Monthly measure of the sales of durable & non durable goods bought by consumers.
What is Retail Sales
400
The point where supply meets demand.
What is Market Price
400
Tools, equipment & machines used in the production of goods.
What is Capital Resources
400
A period in the business cycle marked by a long period of high unemployment, weak consumer sales, and business failures.
What is a Depression
400
Represents ownership in a company.
What is Stock
500
Compares the prices of a group of selected items each year to some previous year.
What is Consumer Price Index
500
Forces businesses to create better quality products and look for new ways to satisfy customers' needs & wants.
What is Competition
500
The mismatch of unlimited needs & wants and limited economic resources.
What is The Basic Economic Problem
500
This can occur when the demand for goods & services is greater than the supply.
What is Inflation
500
A situation where a government spends more money than it takes in over a period of time.
What is Budget Deficit