Economics Final Review

An increase in demand will cause a shift in what direction?

What is a loan to purchase your home called?

What does an expectation like the Christmas Season do the supply of toys?

Demand curve goes in which direction

GPSCENTT is the acronym used for

Which scenario will result in poor credit score and pay higher interest on loans?

What term is defined as a study of efforts to satisfy unlimited wants and limited resources?

TIMER is an acronym used for

What point(s) are inefficient?

A desire or good that is not vital for survival is called?

What shift will occur to corn when a farmer receives a government subsidy?

What point(s) are at maximum capacity?

A decrease will cause the demand to shift what direction?

What type of car insurance is required if you finace the vehicle?

What point(s) are unobtainable?

An act performed for a person is called

What type of unemployment occurs during economic downturns?

Coke and Pepsi are examples of

Type of unemployment occurs when people are replaced by technology.

What term means a person give up something when a choice is made?

Peanut Butter and Jelly are examples of

Supply curve goes in what direction

When quantity demanded is great than quantity supplies it is called?

Land, Labor, Capital and Entrepreneurship are?

What is the ONLY reason for a change in quantity demand or change in quantity supplied?

If a producer has more goods than is demanded what will occur?