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May 25

Security Documents that record the loan to the firm or the ownership interest in the firm
Equity Fairness and justice
Demand Curve/Schedule Graph that shows the relationship between the demand for a good and its price
Supply Curve/Schedule Relationship between the quantity of a good or service and its price
Personal Income Individual earnings
Disposable Income Income left over after necessities such as food and shelte have been paid for
Complimentary Goods Goods that are used together
Substitute Goods Good that can take the place of another good
Surplus Having higher revenues than expedentures
Shortage When there is not enough of a product or service
Consumer Tastes Preferences of consumers
Minimum Wage Government required floor on wages covering most but not all businesses
Inflation Sharp rise in prices
Deflation Decline in the prices of goods and services
Wage and Price Control Government regulations about wages and prices in the market
Interest Rates Percentage rate at which money is borrowed
Trickle-down effect Theory that when big businesses get tax cuts, increased money for business investments go to the normal business cycle
Supply Side Economics Economic school that emphasizes tax cuts and incentives for businesses
Buyers and Sellers (blank)
Monopoly Market with many buyers but only one seller
Oligopoly Market with a small number of sellers
Competitive Market Market where businesses compete actively for market share
Created by: Civics123