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Standard 9
Standard 9 & 10
Standard 10
Standard 10 & 11
Standard 10 cont...
100
A central authority (usually government) makes most of the WHAT, HOW, and FOR WHOM decisions.
What is Command Economy.
100
The government makes laws in order to control what businesses do in order to protect the consumer.
What is Government Regulation.
100
When overall prices go down.
What is Deflation.
100
Workers who are in-between jobs.
What is Frictional Unemployment.
100
The top of the business cycle.
What is Peak.
200
People and firms act in their own best interests to answer the WHAT, HOW, and FOR WHOM.
What is Market Economy.
200
The relaxation or removal of government regulation on business activities.
What is Government Deregulation.
200
When unemployment and prices rise at the same time.
What is Stagnation.
200
The central bank of the United States.
What is Federal Reserve.
200
Low point of the economy.
What is Trough.
300
Combination of both a market and a command economy.
What is Mixed Market Economy.
300
Total value of all goods and services produced in a nation over a specific period of time, usually a year.
What is Gross Domestic Product.
300
Sustained period during which a nation's total output of goods and services increases.
What is Economic Growth.
300
Actions by the Federal Reserve System to expand or contract the money supply in order to affect the cost and availability of credit.
What is Monetary Policy.
300
The economy is growing.
What is Expansion.
400
Economic Freedom, Economic Effeciency, Economic Equity, Economic Security, Full Employment, Price Stability, and Economic Growth.
What is Seven Goals of an Economy.
400
Shows monthly changes in the prices of goods and services by monitoring the price of things usually purchased by consumers.
What is Consumer Price Index.
400
The number of people not working.
What is Unemployment.
400
How the government spends money and imposes taxes.
What is Fiscal Policy.
400
Time when the economy is in contraction for six to eight months.
What is Recession.
500
What drives market.
What is Profit Motive.
500
A rise in prices.
What is Inflation.
500
When changes in the structure of the work place change the need for workers.
What is Structural Unemployment.
500
Progressive Tax, Regressive Tax, Proportional Tax.
What is Types of Taxes.