Supply and Demand
The amount of people who want a good is called?
What is demand?
The idea that everything is limited in a world with unlimited wants.
What is scarcity?
When you buy a piece of company but you don't actually run the company?
What is a Stock?
A plan that spreads the cost of individuals damages by protecting a person against financial loss or damage.
What is insurance?
The study of how people, companies, and countries meet their wants and needs?
What is economics?
The idea of borrowing someoness elses money?
What is Credit?
The amount of a good that is being supplied is called?
What is supply?
What is the term the explains the next best alternative after making a choice?
What is opportunity cost?
What is a certificate of a loan to a business?
What is a Bond?
An amount of money an individual or business pays regularly.--monthly or quarterly or yearly to remain insured is know as?
What is a Premium?
This type of economy relies on the forces of the laws of supply and demand where consumers choose what to buy and companies choose what to make?
What is Market Economy?
The cost of borrowing money? Usually expresses as an percentage of the principal (amount borrowed)
What is interest?
If both the quantity supplied and demanded are the same what is the economic term for this?
What is equalibrium?
The things that are used to make/produce consumer goods are called?
What is capital?
The ease of which a asset can be converted to cash?
What is liquidity?
A percentage of a bill that is the responsibility of the policy holder.
What is a copayment?
What is a shortage?
What is the card that allows you take out "Mini" loans?
What is a credit card?
If the price of a good goes up what will happen to the demand of that good?
It will decrease?
This type of economy relies mostly on bartering and not money?
What is a traditional economy?
Buying land or buildings for investments
What is real-estate?
Amount taken out first; payment owed before insurance coverage. Resets yearly.
What is a deductible?
When the supply of something out weighs the demand of that same thing?
What is a surplus?
What will happen if the people who barrow from the bank do not pay their money back?
What is your money goes Puff? Gone.
If a price of a good goes up what will happen to the supply of that good?
What is increase?
This type of economy involves heavy government control?
What is a command economy?
What are dividends?
A fixed fee you pay for specific medical services
What is a copay?
What is $110?
What do banks do with your money when you give it to them?