Econ/Personal Finance

The law of supply states...

The study of how wealth is created and distributed

What is the name of this curve?

I make $40,000 a year so I earn a .....

I earn 30% from every sale, so I work off of...

My debit card is linked to my....

The system in which society creates and distributes wealth.

The red line or line "A" represents what?

The more resources I input into my production, the less productive I become is an example of...

Natural resources-seas, rivers, minerals, forests, fertile soil, coal/oil, and animals

Letter "D" can only be attainable by...

Limited resources to supply unlimited needs and wants

The amount of something produced by a person, machine, or industry.

Letter "D" represents...

A more productive nation generally is more prosperous and has a higher standard of living

A person who operates a business(es) taking on greater than normal financial risks to do so.

A firm/entrepreneurs who have the business know-how, to run and organize the production process

What is the name of this curve?

I charge money to his card, but don't have to pay it off until the end of the month

Paid Time Off (PTO), Sick Days, Bereavement Days, and Health Insurance are considered?

Is a retirement savings plan, which allows employees to save and/or invest for retirement

Occurs when there is a high supply of a product and a low demand for it.

An estimate of personal income and expenditure for a set period of time

If Nabisco sold Oreo packets for $10 a pack, they would _____ supply based on the law of supply

Production, investment, prices, & incomes are determined by the Government

Machinery, capital goods, and finance (money), man made resources

The loss of potential gain from other alternatives when a specific choice is made

Letter "C" is called?

Occurs when there is a low supply of a product and a high demand for it.

This curve represents what?

The law of demand states....

The name of this type of curve is what?

Human resources, manual labor, provide physical and mental effort

The Factors of Productions are....

A substitute for provolone cheese would be...

Total amount required to pay workers and employees during a specific pay period

A reduction in pay from benefits, social security, Medicare, Taxes, etc. is called?

I set aside money in this account for my savings and earn interest on this account

If the price of a packet of Oreo's cost $10, demand for Oreos would....

Resources that are put into a system(business or economy) to obtain a desired output.