Business Cycle
Rising prices in the economy
What is infaltion
Quantity of a good that consumers are willing and able to purchase at various prices during a given time.
What is demand
Any structure that allows buyers and sellers to exchange types of goods, services and information.
What is a market
Something that motivates a person to do something
What is incentives
The number of goods or services that suppliers will produce and sell at a given market price.
What is quantity
When the government samples prices each month for about 400 products commonly used by consumers.
What is Consumer Price Index (CPI)
A graph that shows the correlation between the supply of a product or service
What is a supply curve
Only one seller of a particular product dominates the market with at least 75% control.
What is a monopoly
Financial motivations for people to take certain actions
What is economic incentives
Communism
What is an example of a command economy
The statistical measurements that track stock prices over time to give an idea of the well-being of the stock market as a whole.
What is Stock Indexes
Input prices, technology, number of sellers, producer expectations
What is the determinants of supply
Comporium
What is an example of a geographic monopoly
Tax breaks to encourage consumers to spend on certain items
What is tax credits
America has this kind of economy
What is a mixed economy
The four parts of the business cycle
What is Expansion, Peak, Recession, and Trough
The determinants of demand
What is income, prices of related goods, number of buyers, consumer expectations
The 4 types of market structure
What is Pure/Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly
Business grants, bonuses, stock options, profit sharing
What is types of incentives
The four types of economic systems.
What is traditional, mixed, command, and market
The two most popular stock indexes
Standard and Poor's 500, Dow Jones Industrial Average
I don't have one for this, so tell me the exact coordinates of the Cuban border
21.86083° N and 84.95694 ° W
An example of every type of monopoly
(McCarson will confirm others that aren't listed)
What is, AMTRAK, USPS, EpiPen, NFL, Duke Energy
Industries/Goods with Incentives for Consumers
What is Solar Panels, Electric vehicles, Farming, Pharmaceuticals
The 5 traits of a traditional economy
What is Centered around family/tribe, Exists in a hunter-gatherer and nomadic society, Trade relies heavily on bartering, Produce only what is needed, Eventually evolve to form a currency for trade