Economics
Help!
|
|
||||
|---|---|---|---|---|---|
| Equilibrium | the point at which quantity demanded is equal to quantity supplied
🗑
|
||||
| Disequilibrium | any price or quantity that is not at equilibrium
🗑
|
||||
| Excess demand | when quantity demanded is more than quantity supplied
🗑
|
||||
| Excess supply | when quantity supplied is more than quantity demanded
🗑
|
||||
| Price ceiling | a maximum price that can be legally charged for a good or service
🗑
|
||||
| Price floor | A minimum price for a good or service
🗑
|
||||
| Rent control | a price ceiling on rent
🗑
|
||||
| Minimum wage | a minimum price that an employer can pay a worker for an hour of labor
🗑
|
||||
| Surplus | situation in which quantity supplied is greater than quantity demanded; excess supply
🗑
|
||||
| Shortage | situation in which quantity demanded is greater than quantity supplied; excess demand
🗑
|
||||
| Search costs | the financial and opportunity costs consumers pay when searching for a good or service
🗑
|
||||
| supply shock | a sudden shortage of a good
🗑
|
||||
| Rationing | A system of allocating scarce goods and services using criteria other than price
🗑
|
||||
| Black market | A market in which goods are sold illegally
🗑
|
||||
| Spillover costs | Costs of production
🗑
|
||||
| Sale proprietorship | A business owned and managed by a singlw individual
🗑
|
||||
| Liability | A legally bound obligation to pay debts
🗑
|
||||
| Fringe benefits | payment other than wage or salaries
🗑
|
||||
| Partnership | A business organization owned by two or more individuals who agree on a specific division of responsibilities and profits
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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
Created by:
14schum_nico
Popular Economics sets