Macroeconomics
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Opportunity Costs | The sacrifice of one opportunity for another one
🗑
|
||||
| Macroeconomics | The economy viewed as a whole or its basic subdivisions or aggregates, such as government, household, and business sectors.
🗑
|
||||
| Aggregate | A collection of specific economic units treated as if they were one unit
🗑
|
||||
| Production Possibilities Frontier | Represents the point at which an economy is most efficiently producing its goods and services and, therefore, allocating its resources in the best way possible
🗑
|
||||
| Circular Flow Model | The flow of resources from households to firms and of products from firms to households. These flows are accompanied by reverse flows of money from firms to households and from households to firms
🗑
|
||||
| Market | An institution or mechanism that brings together buyers ("demanders") and sellers ("suppliers") of particular goods, services or resources
🗑
|
||||
| Demand | A schedule showing the amounts of a good or service that buyers (or a buyer) wish to purchase at various prices during some times period.
🗑
|
||||
| Demand Curve | A curve which illustrates the relationship between price and quantity demanded. (Usually curves down)
🗑
|
||||
| Determinants of Demand | 1. Consumers' tastes (preferences)
2. Number of consumers in a market
3. Consumers' income
4. Prices of related goods
5. Consumer expectations
🗑
|
||||
| Supply | A schedule or curve showing the amounts of a product that producers are willing and able to make available for sale at each of a series of possible prices during a specific period
🗑
|
||||
| Supply Curve | A curve which illustrates the relationship between price and quantity supplies (usually curves up)
🗑
|
||||
| Determinants of Supply | 1. Resource prices
2. Technology
3. Taxes or subsidies
4. Prices of other goods
5. Price expectations
6. Number of sellers in a market
🗑
|
||||
| Equilibrium | "Market clearing." No shortage or surplus.
🗑
|
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:
lanngoctran
Popular Miscellaneous sets