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Rebekah Monsma
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Decks in this class (25)
Chapter 7- Section 1
Refers to the supply side of the ...,
The philosophy that government sh...,
The nature and degree of competit...
34
cards
Chapter 1- Section 1
The study of how people try to sa...,
Fundamental economic problem faci...,
A basic requirement for survival ...
25
cards
Chapter 1-Section 2
An item that is economically usef...,
Goods and services that are usefu...,
Intended for final use by individ...
30
cards
Chapter 1- Section 3
Using a ______ is one way to anal...,
Alternative choices whenever maki...,
What does a decision making grid ...
10
cards
Chapter 2- Section 1
What are the three major kinds of...,
An organized way of providing for...,
A traditional economy is based on...
13
cards
Chapter 2- Section 2
How many major kinds of goals are...,
What are two kinds of goals peopl...,
What are the seven goals
21
cards
Chapter 2- Section 3
Another term used to describe the...,
Where private citizens many of wh...,
What is the first characteristic ...
19
cards
Chapter 3- Section 1
What is a sole proprietorship,
What are the three main forms of ...,
How easy is a sole proprietorship...
32
cards
Chapter 3- Section 2
A report showing a businesses sal...,
A combination of two or more busi...,
What does cash flow represent
16
cards
Chapter 3- Section 3
What are some examples of nonprof...,
Operates in a businesslike way to...,
Voluntary association of people f...
14
cards
Chapter 4- Section 1
What is microeconomics,
What three factors determine the ...,
What is the purpose of a demand s...
11
cards
Chapter 4- Section 2
What happens when prices drop,
A movement along the demand curve...,
The change in quantity demanded b...
17
cards
Chapter 4- Section 3
The extent to which a change in p...,
A measure of responsiveness set t...,
When i given change in price caus...
7
cards
Chapter 5- Section 1
The principle that suppliers will...,
The amount of a product that woul...,
A listing of the various quantiti...
18
cards
Chapter 5- Section 2
What happens when more than one f...,
What does the law of variable pro...,
A period of production that allow...
19
cards
Chapter 5- Section 3
Overhead is what,
The cost that a business incurs e...,
What do fixed costs include
13
cards
Chapter 7- Section 2
What happens when four conditions...,
What four conditions must be met ...,
Inadequate competition inadequate...
14
cards
Chapter 7- Section 3
What was the purpose of the sherm...,
What was the antitrust legislatio...,
What was the purpose of the clayt...
17
cards
Chapter 14- Section 1
Why did the government declare a ...,
What is the difference between a ...,
How did easy and plentiful credit...
18
cards
Chapter 14- Section 2
The number of unemployed individu...,
People available for work who mad...,
What are the limitations of the u...
10
cards
Chapter 14- Section 3
How is price level used in determ...,
The relative magnitude of prices ...,
Inflation between 1 3
16
cards
Chapter 14- Section 4
What are reasons for income inequ...,
A curve that shows how much the a...,
Why does education affect income ...
23
cards
Chapter 15- Section 1
What does the federal reserve sys...,
In 1913 congress created what,
Commercial banks that are members...
37
cards
Chapter 15- Section 2
Requires banks and other deposito...,
The expansion or contraction of t...,
Consists of coins and currency th...
32
cards
Chapter 15- Scetion 3
What does the long run monetary p...,
What does the short run monetary ...,
When the fed expands the money su...
14
cards
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economics
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