Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
chap 23
| Question | Answer |
|---|---|
| private goods | good that when consumed by on individual cannot be consumed by another |
| public good | economic goods that are consumed collectively such as highways and natural defenses |
| externality | the unintended side effects of an action that affects someone not involved in the action |
| monopoly | when the market creates a sole provider for good and services |
| antitrust law | legislation to prevent new monopolies from forming and police those that already exist |
| merge | a combination of two or more companies to form a single business |
| natural monopoly | a market situation in which the cost of productions are minimized by having a single from of produce the product |
| real GDP | another adjustments for inflation |
| business cycle | alternating periods of all growth and decline that the economy goes through . |
| civilian labor force | all civilians 16 years or older who either working or looking for work |
| unemployment rate | the percentage of people in the civilian labor force who are not working but looking for jobs |
| food stamps | government coupons that can be used to purchase food |
| fiscal policy | the federal government use of spending and taxation polices in affect overall business |
| inflation | sustained increase in the general level of prices |
| consumer price index | measure in change of price over time of specific groups of good and services |
| women infant and children | a program that provides help for nutrition and health care to low income women infants and children up to age 5 |
| workfare | programs that require welfare recipients to exchange some of their labor to return for benefits |
| progressive income taxes | a tax that takes a lager percentage of a higher incomes |
| earned income tax credit | a program Agatha gives credit an even cash payments to the qualified works |
| recall | a special election in which citizens can vote to remove a public office. situation in which a company pulls a product off the market and agrees to change it to make it safe |
Created by:
somonnemclean
Popular History sets