market structures
How do market structures affect the economy?
it affects how the firm prices and supply their goods and services, the entry and exit barriers.
labor union whose members perform under the same kind of work?
craft union
What are the main sources of government revenue?
Taxes, Social Security Contributions, and Fees and Charges.
What are the main categories of government spending?
Mandatory Spending and Discretionary Spending.
What are financial markets?
Financial markets are platforms or systems that facilitate the buying and selling of financial assets, such as stocks, bonds, and commodities.
What is a market structure example?
pharmaceuticals, media, and the automotive industry.
labor union whose members perform under the same kind of work?
Trade union
How does income tax contribute to government revenue?
As income tax is progressive, meaning that higher income earners pay a higher percentage of their income in taxes.
How does government spending impact economic growth?
By Public Investments, Social Programs, and Countercyclical Effects.
What are the main types of financial markets?
They are Capital Markets, Primary Market, Secondary Market, and Money Markets.
What is the 5 structure of the market?
Perfect Competition, Monopoly, Oligopoly, Monopolistic Competition and Monopsony.
How does minimum wage work?
Getting payed really low
What is the difference between direct and indirect taxes?
Direct Taxes are taxes that are directly imposed on an individual or entity's income or wealth and Indirect Taxes is that are taxes levied on goods and services rather than on income or profits.
What is the difference between capital and current government spending?
Capital Spending and Current Spending.
What is the role of a stock exchange in the financial markets?
The role of a stock exchange includes Facilitating Liquidity, Price Discovery, Regulation and Transparency.
How does the market affect the economy?
By increased sales and earnings for corporations, further boosting GDP.
What are the effects of automation on employment and wages?
Job Losses in Certain Sectors and Wage Compression.
What role does corporate tax play in government revenue?
The revenue generated from corporate taxes helps fund public services such as infrastructure, education, and healthcare.
What are the effects of government spending on inflation?
Demand-Pull Inflation and Cost-Push Inflation.
What is the difference between stocks and bonds?
stocks: When you buy stocks, you are purchasing ownership in a company.
Bonds: Bonds are a form of debt issued by governments or corporations.
What determines the level of prices in a market?
supply and demand.
How do labor market policies impact wages and employment?
Minimum Wage Laws, Labor Unions, and Workplace Regulations.
How do tariffs and trade taxes contribute to government revenue?
Governments use these taxes as a source of revenue and also as a tool to protect domestic industries from foreign competition.
What is the role of government spending in income redistribution?
The play a role model in Social Welfare Programs, Progressive Taxation, and Subsidies and Benefits.
What is the concept of risk and return in financial markets?
Risk: refers to the possibility of losing money or not achieving the expected returns from an investment.
Return: is the gain or loss made from an investment over a period, usually expressed as a percentage of the initial investment.