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
Economics Review
| Question | Answer |
|---|---|
| Negative Aspect about Debit Cards | seldom improve credit score |
| New Sources of Economic Demand | increased exports |
| Outsourcing US Productivity | perception of India only having call centers |
| Higher Personal Income Tax | decreased money to businesses from households |
| Deflation? | persistent fall in price level |
| Inflation? | best determines real prices |
| Economic Fact 1 | a developing country will produce the same product for less than in America, which will lower the price and increase the quantity produced if imported into America. |
| If a cable company wants access to the customers... | Compensation must be paid to the owner of the building. An apartment building owner has the right to maintain control of its private property. |
| Expansionary Monetray Policy | Decreasing the Reserve requirement |
| Quantity Demanded | influenced by changes in price |
| Increased Interest Rates result in... | Increased Savings and Decreased consumer spending and aggregrate demand |
| 4 Factors of Production | 1. Capital 2. Entrepreneurs 3. Labor 4. Resources |
| Most Income in States comes from | Sales Tax |
| Increased market competition | results in more choices for consumers |
| Nominal Value of a Good | science and technology spending about $5 billion |
| Expected outcome of limiting imported product | higher cost of product |
| Accelerating GDP growth | period of expansion |
| Selling items at a price below the equilibrium point | big shortage |
| Economic Concept of âguns vs. butterâ | opportunity cost |
| store of value function of money | saving 10% of income |
| Comparative Advantage 1 | US making more profit than another country on same Good |
| Complementary Goods | demand curves shift to the Left if the price of one or the other increases |
| Comparative Advantage 2 | Ability of a companyto produce a good at a lower opportunity cost than another company |
| Communism | Collective resources ; Government control over all means of production, property, and economic decisions |
| Capitalism | free market |
| Government increased interest rates + reduced consumer demand + Lower levels of spending | Slower Inflation |
| Using services of another law firm instead of keeping lawyers in-house | Reduces business administration costs |
| National Park Service created by the Goal to.... | protect scarce resources |
| Hairstyling Industry | Monopolistic Competition |
| Government policy to encourage economic growth | Establish free trade agreement |
| Price of other goods | causes shift in the demand curve |
| Flat income tax | regressive tax |
| file a claim with attorney general | get your money back from car dealership for falsifying facts of the car you purchased |
| South Korea lowering tariff on cars & US eliminating tariff | South Korean consumers will benefit from lower- priced cars |
| Best incentive for Entrepreneurship | opportunity to earn a profit |
| basis of comparative advantage | specialization |
| Lack of resources | Scarcity |
| bouncing a check | $35 fee will be charged to checking account |
| Highest Risk/ Highest Return | Stocks |
| Contribution Plan | Employee assumes more risk than in benefit plan |
| Company raises money through Stocks | Selling Shares to Public |
| Short Term interest rate | Used to influence economic growth of businesses |
| Sole Proprietorship Disadvantage | Unlimited personal liability |
| paying bills, no interest on deposits, no limit to withdrawals, monthly service fee | Checking Account |
| Where do i sign my name on a check? | Bottom Right |
| Corporate Stocks | High Risk and High Return |
| Large corporation comprised of smaller companies producing very different products | Conglomerate |
Created by:
diavian1
Popular Economics sets