Week 5 (1)
A system or arena in which buyers and sellers interact to exchange goods and services
Market
Punishments or consequences imposed for violating laws
Penalties
When prices go up over time
Inflation
The percentage of the population that lives below the poverty threshold
Poverty rate
This type of health deals with going to the doctor to get a checkup
Physical
A market in which one seller controls the entire supply of goods or services
Monopoly
customer having total control
The amount prices go up every year
Inflation rate
Governmental programs designed to provide financial support to people in need.
Welfare
This type of health deals with the way you think.
Mental Health
The rules or laws set by authorities to control or manage economic activities
Regulations
Another word for business
Firm
Things people usually buy together
Market basket
A system that requires individual to work for their government assistance
Workfare
This type of health deals with how you interact with your peers
Social Health
People that buy goods and services for personal use
Consumers
A marketplace where goods and services are sold to consumers
Product market
The financially ability to buy products and services with a dollar
Purchasing power
When your pay does not change regardless of inflation
Fixed income
What is the name of the chemical your brain release when exercising?
Endorphins
An economic system where private businesses operate competitively
Free Enterprise/ Free market
The process of focusing on a particular area of production of goods and services to increase efficiency
Specialization
When wages go up the price of the goods and services also go up.
Wage price spiral
The decrease in price of goods and services, often because of the decline in economic activity
Deflation
Name something that the health video stated can help with all 3 types of health
yoga, joining a team, sports, etc