Quiz #14 Vocab Flashcards Preview

AP Economics > Quiz #14 Vocab > Flashcards

Flashcards in Quiz #14 Vocab Deck (14):
0

Industry that does not experience increasing costs as output rises, usually because this industry uses only a small proportion of the resources they rely on

Constant cost industry

1

Industry that experiences decreasing production costs as output rises, usually because increased demand enables more efficient mass production techniques

Decreasing costs industry

2

Industry that experiences increases in production costs as output increases usually due to resource prices being bid up by a higher demand

Increasing cost

3

industry one who attempts to benefit from a public good without paying for it

Free rider

4

Money paid or income received for which no good or service has been exchanged

Transfer payment

5

A person or entity deemed suitable to receive loans or other forms of credit

Credit worthy

6

Regular payments made to someone in retirement

Pension

7

A stock or any other security that represents ownership

Equity

8

The ease with which an asset can be turned into money for spending

Liquidity

9

Gain or profit from the sale of an asset

Capital gains

10

The profit or yield from an investment

Return

11

A range or collection of investments held by an individual or organization

Portfolio

12

Obstacles that prevent new competitors from entering in industry; can include high start up costs, patents, or monopoly power of existing competitors

Barriers to entry

13

The level of wealth and amount of material goods available to the members of a community

Standard of living