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May 25
Word | def |
---|---|
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 |