Econ Final Review
Help!
|
|
||||
|---|---|---|---|---|---|
| show | paradox of value
🗑
|
||||
| show | capital goods
🗑
|
||||
| show | become better decision makers
🗑
|
||||
| show | GDP
🗑
|
||||
| 5. What do entrepreneurs do? | show 🗑
|
||||
| show | T
🗑
|
||||
| 7. The minimum wage is an example of a federal law that supports | show 🗑
|
||||
| show | a for-profit company that works in multiple countries
🗑
|
||||
| 9. For most products and services, an increase in price results in | show 🗑
|
||||
| 10. An increase in the price of milk causes a decrease in the demand for cereal. The two products are | show 🗑
|
||||
| 11. If a modest price increase has little or no effect, the demand for the product is | show 🗑
|
||||
| show | substitute
🗑
|
||||
| show | inelastic
🗑
|
||||
| show | semi-skilled labor
🗑
|
||||
| show | Equal Pay Act
🗑
|
||||
| 16. The invisible barrier that hinders women and minorities from advancement up the corporate ladder is ______________ | show 🗑
|
||||
| 17. What is the “incidence of a tax”? | show 🗑
|
||||
| 18. Ann earns $10,000 annually and pays a tax of $1,000. Jerome earns $60,000 during the same period and pays taxes of $20,000. The tax they both paid was a | show 🗑
|
||||
| 19. FICA includes taxes to pay for | show 🗑
|
||||
| 20. An example of discretionary spending is financing for ____________ | show 🗑
|
||||
| 21. The largest category of spending for most local governments is | show 🗑
|
||||
| 22. Money that has an alternative use as an economic good is | show 🗑
|
||||
| 23. Money loses its value when it | show 🗑
|
||||
| 24. When money is easily transferred from one person to another, it is said to be | show 🗑
|
||||
| 25. The North American Free Trade Agreement proposed free trade between the United States and | show 🗑
|
||||
| value | show 🗑
|
||||
| show | study of how people try to satisfy their needs through the careful use of scarce resources
🗑
|
||||
| capital | show 🗑
|
||||
| show | condition of not having enough resources to produce all the things people want
🗑
|
||||
| show | cost of the next-best alternative use of money, time, or resources when one choice is made rather than another
🗑
|
||||
| labor | show 🗑
|
||||
| Social Security | show 🗑
|
||||
| competition | show 🗑
|
||||
| show | political and economic system in which the government owns and controls some, but not all, of the basic productive resources
🗑
|
||||
| inflation | show 🗑
|
||||
| profit | show 🗑
|
||||
| show | price paid for the use of another's money
🗑
|
||||
| show | corporation that has manufacturing or service operations in a number of countries
🗑
|
||||
| show | organization of workers formed to represent its members' interests in various employment matters
🗑
|
||||
| show | stock of finished goods and parts in reserve
🗑
|
||||
| show | desire, ability, and willingness to buy a product
🗑
|
||||
| elastic | show 🗑
|
||||
| show |
🗑
|
||||
| microeconomics | show 🗑
|
||||
| 1. The situation in which some necessities have little value while some non-necessities have a much higher value is known as _______ | show 🗑
|
||||
| 2. Manufactured goods needed to produce other goods and services are called ________ | show 🗑
|
||||
| show | become better decision makers
🗑
|
||||
| 4. The dollar value of all final goods, services, and structures produced within a country’s borders in a single year is _______ | show 🗑
|
||||
| show | start new businesses
🗑
|
||||
| show | T
🗑
|
||||
| show | economic equity
🗑
|
||||
| 8. What is a multinational? | show 🗑
|
||||
| 9. For most products and services, an increase in price results in | show 🗑
|
||||
| show | complements
🗑
|
||||
| 11. If a modest price increase has little or no effect, the demand for the product is | show 🗑
|
||||
| 12. Consumers' willingness to replace a costly item with a less costly item is an example of | show 🗑
|
||||
| 13. When a customer's need for a product is not urgent, demand tends to be | show 🗑
|
||||
| show | semi-skilled labor
🗑
|
||||
| show | Equal Pay Act
🗑
|
||||
| 16. The invisible barrier that hinders women and minorities from advancement up the corporate ladder is ______________ | show 🗑
|
||||
| show | whoever has to pay the tax has the incidence of a tax
🗑
|
||||
| show | progressive tax
🗑
|
||||
| show | Social Security and Medicare
🗑
|
||||
| 20. An example of discretionary spending is financing for ____________ | show 🗑
|
||||
| show | educational spending
🗑
|
||||
| show | commodity money
🗑
|
||||
| 23. Money loses its value when it | show 🗑
|
||||
| 24. When money is easily transferred from one person to another, it is said to be | show 🗑
|
||||
| 25. The North American Free Trade Agreement proposed free trade between the United States and | show 🗑
|
||||
| value | show 🗑
|
||||
| show | study of how people try to satisfy their needs through the careful use of scarce resources
🗑
|
||||
| show | tools, equipment, machinery, and factories used in the production of goods and services
🗑
|
||||
| show | condition of not having enough resources to produce all the things people want
🗑
|
||||
| opportunity cost | show 🗑
|
||||
| show | people with all their efforts, abilities, and skills
🗑
|
||||
| show | program that provides retirement and disability benefits for working people
🗑
|
||||
| show | struggle among sellers to attract consumers
🗑
|
||||
| show | political and economic system in which the government owns and controls some, but not all, of the basic productive resources
🗑
|
||||
| inflation | show 🗑
|
||||
| profit | show 🗑
|
||||
| show | price paid for the use of another's money
🗑
|
||||
| show | corporation that has manufacturing or service operations in a number of countries
🗑
|
||||
| labor union | show 🗑
|
||||
| inventory | show 🗑
|
||||
| show | desire, ability, and willingness to buy a product
🗑
|
||||
| elastic | show 🗑
|
||||
| substitutes | show 🗑
|
||||
| show | part of economic theory that deals with behavior and decision making by individual units
🗑
|
||||
| Law of Supply | show 🗑
|
||||
| supply elasticity | show 🗑
|
||||
| overhead | show 🗑
|
||||
| total cost | show 🗑
|
||||
| unskilled labor | show 🗑
|
||||
| mediation | show 🗑
|
||||
| show | mass refusal to buy products from targeted companies
🗑
|
||||
| union shop | show 🗑
|
||||
| minimum wage | show 🗑
|
||||
| progressive tax | show 🗑
|
||||
| sin tax | show 🗑
|
||||
| property tax | show 🗑
|
||||
| show | federal tax on people's earnings
🗑
|
||||
| per capita | show 🗑
|
||||
| budget surplus | show 🗑
|
||||
| show | that part of the economy made up of individuals and privately owned businesses
🗑
|
||||
| deficit spending | show 🗑
|
||||
| show | bank that received its charter to operate from the state government
🗑
|
||||
| silver certificate | show 🗑
|
||||
| barter economy | show 🗑
|
||||
| fiat money | show 🗑
|
||||
| automatic stabilizer | show 🗑
|
||||
| show | price where quantity supplied equals quantity demanded
🗑
|
||||
| show | actions to lower unemployment by stimulating aggregate demand
🗑
|
||||
| show | tax on imports designed to increase their price in the domestic market
🗑
|
||||
| show | agreement among Canada, Mexico, and the United States to reduce tariffs
🗑
|
||||
| fixed exchange rate | show 🗑
|
||||
| show | a country's ability to produce more of a given product than another country
🗑
|
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:
jkrich2008
Popular Economics sets