Economics
Limited quantities of resources to meet unlimited wants
What is Scarcity?
the act of giving up one benefit to gain another, greater benefit
What is a trade-off?
a general increase in prices and fall in the purchasing value of money
What is inflation?
a digital, encrypted, and decentralized medium of exchange
What is cryptocurrency?
What is French Field?
The study of how people seek to satisfy their needs and wants by making choices
What is economics?
the most desirable alternative given up as the result of a decision
What is opportunity cost?
economic period of significant decline in economic activity and unemployment
What is a recession?
a street in New York where the New York Stock Exchange is and the financial center of the US
What is Wall Street?
courses that let students develop career skills and earn industry-recognized credentials in a variety of fields
What is the Future's Lab?
What is a Need?
a type of economic system where supply and demand regulate the economy, rather than government intervention
What is a Market Economy?
Conducts the nation's monetary (money) policy to promote maximum employment, stable prices, and interest rates
What is the Federal Reserve?
a share in the ownership of a company
What is a stock?
Carey Christensen
Who is PHS' new principal?
an item that we desire but that is not essential to survival
What is a want?
how resource, goods, and services, an money flow among individuals, businesses, and governments in a market economy
The circular flow model
Maintain competition, provide public goods and services, redistributing income, stabilizing the economy
What is the role of the government?
influences government policy, climate change, and international relations
What is Globalization?
What is 1963?
Land, labor, and capital; the three groups of resources that are used to make all goods and services
What are factors of production?
Individuals who establish businesses, often by introducing new ideas or products
What is an Entrepreneur?
the measure of all goods and services in a country
What is Gross Domestic Product?
when a country provides food and resources to another country
What is foreign aid?
An annual event that PHS does involves a canned food drive and community service
What is the Food drive or Cans around the Oval?