G11
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | Individual markets
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| Macroeconomics | show 🗑
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| Inflation | show 🗑
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| show | Free market
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| Utility | show 🗑
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| show | All goods and FOPS in an economy are allocated to their most valuable uses
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| show | Unlimited wants, limited FOPS
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| Market | show 🗑
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| show | Market structure where a single seller/producer is in a dominant position of a industry/sector
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| show | Direct/indirect payment to individuals or firms from the government/targeted tax cut
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| show | Metaphor for unseen forces that move the free market economy
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| Command economy | show 🗑
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| Taxes | show 🗑
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| Interest | show 🗑
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| Actual output | show 🗑
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| Potential output | show 🗑
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| GDP | show 🗑
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| show | Model of how money moves through society
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| show | Production possibilities curve, represents different combinations of two goods produced
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| show | Relies on experiments and evidence of consumer behaviorq
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| Factor payments | show 🗑
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| show | Opportunity lost
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| show | Withdrawal of income from the flow: Savings, taxes, imports
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| Injections | show 🗑
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| Leakages > Injections | show 🗑
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| Leakages < Injections | show 🗑
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| Positive economics | show 🗑
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| show | Identifies important econ, problems and prescribes what should be done to solve them
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| show | Describe: Economic growth has increased from _ to _ in the last _
Explain: The increase in the price of _ has resulted in _
Predict: _ will happen
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| show | Governments should raise taxes to fund new programs
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| show | Individual consumer's willingness/ability to buy goods/services at different prices at a specific time period
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| show | All else being equal
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| Negative causal relationship | show 🗑
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| show | Price Y --- Demand X
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| show | States that there is a negative causal relatipnship between a good's price and the quantity demand for it
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| show | Changes in income - Tastes and preferences - Future price expectations - Price of related goods - Size of market (Number of consumers)
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| Substitutes | show 🗑
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| show | Phone / phone case - Fries / ketchup
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| Supply | show 🗑
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| show | States that there is a positive causal relationship between a goods price and its quantity supplied in a particular time period
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| Non price determinants of supply | show 🗑
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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.
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Created by:
LimppuBiscuit
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