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Flashcards for Chapter 3 in the class Economics Book.

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Definition
Term
show Household  
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Their level of satisfaction or sense of well-being   show
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show Firm  
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the development of large-scale factory production   show
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guarantee individuals the right to use their resources as they choose or to change others for the use   show
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attempt to promote competition and reduce anti competitive behavior   show
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When it is cheaper for one more firm to serve the market then for two or more firms to do so   show
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uses taxing and public spending to influence national economic variables   show
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show Monetary Policy  
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both rival and exclusive   show
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non-rival in consumption   show
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show Quasi-public goods  
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goods that are rival but nonexclusive   show
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show Negative Externalities  
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show Positive Externalities  
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show Median income  
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show Income-assistance programs  
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programs designed to help make up for the lost income of people who worked but are now retired, temporarily unemployed, or unable to work because of disability   show
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Created by: dsalvucci
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