ECON. Study Guide
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| Inflation | show 🗑
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| Branch of the U.S. Treasury Dept. in charge of collecting taxes | show 🗑
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| show | the study of economic behavior and decision-making in small units, such as households and firms
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| show | a firm that has at least four businesses, each making unrelated products, none of which is responsible for a majority of its sales.
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| substitution effect | show 🗑
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| goods | show 🗑
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| market economy | show 🗑
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| show | The total income that the consumer sector has at its disposal after personal income taxes.
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| a cooperative | show 🗑
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| show | an amount of money spent
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| financial/capital account | show 🗑
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| human capital | show 🗑
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| Consumer Price Index (know how it works) | show 🗑
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| show | relationship between the quantity of a commodity
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| elasticity | show 🗑
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| show | A bank has a liability when someone deposits money into a savings account.
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| specialization and exchange | show 🗑
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| comparative advantages | show 🗑
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| theory of rational expectations | show 🗑
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| Which capital markets are the stock market associated with | show 🗑
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| What will decreasing personal tax rates do? | show 🗑
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| demand curve | show 🗑
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| Which is equilibrium present in a market? | show 🗑
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| show | a company ceasing operations following its inability to make a profit or to bring in enough revenue to cover its expenses.
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| show | an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners.
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| When will income and living standards of a nation increase? | show 🗑
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| show | Through government programs.
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| show | The changes in economic activity.
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| show | one without government intervention or regulation. In a purely free market, buyers and sellers arrive at prices based only on supply and demand.
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| show | They need additional reserves
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| economics | show 🗑
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| scarcity | show 🗑
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| show | an economic arrangement that eliminates barriers to the free movement of goods, services, and investment between countries.
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| show | a need is something needed to survive.
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| conglomerate goods | show 🗑
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| show | A situational decision that involves diminishing or losing one quality, quantity or property
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| microeconomics | show 🗑
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| market equilibrium | show 🗑
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| show | the added satisfaction that a consumer gets from having one more unit of a good or service.
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| show | transactions between private groups of people are free from any form of economic interventionism deriving from special interest groups.
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| show | business expenses that are not dependent on the level of goods or services produced by the business. They tend to be recurring, such as interest or rents being paid per month. These costs also tend to be capital costs.
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| show | a trade union organizing method through which all workers in the same industry are organized into the same union, regardless of skill or trade.
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| central bank | show 🗑
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| show | the major plan for a federal government's estimated future revenues and spending for the coming fiscal year.
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| show | A fund put into account until a beneficiary is active.
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| municipal bond | show 🗑
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| show | A provision in the union contract requiring all new employees to join the union and requiring all workers already in the union to remain as union members.
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| show | a graphical representation of income inequality or wealth inequality.
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| commodity money | show 🗑
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| show | the study of economic behavior in decision making in a nations whole economy
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| theory of negotiated wages | show 🗑
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| perfect competition | show 🗑
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| show | The revenue service of the United States federal government.
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