Goods/services needed to producee

All the goods and services from a country

Unit 8 Economics Flashcards

1

Capital is ....

Store front
Goods/services needed to producee
Work that people do
Person with an idea

2

Work that people do?

Land
Entreprenuership
Capital
Labor

3

GDP refers to...

Goods given to the US
Great door project
All the goods and services from a country
Green deer player

4

I am an indicator of the economy in the business cycle?

Teaching jobs
New cars
Income taxes
21 Savage looks like a super villain.

5

What is the highest point in the business cycle?

Trough
Peak
High Point
Expansion

6

I introduced the ideas of communism and socialism...

Real Slim Shady
Karl Marx
Trader Joe
Adam Smith

7

What do consumers "sell" in the factor market?

Puppies
Expenditures
Capital
Labor

8

What does this describe?

Heart beat
Business cycle
Economics
Circular flow

9

The study of how people make choices to use their limited resources...

Nationalism
Economics
Free Market
Supply/Demand

10

The DOW JONES is up 50 points today indicates...

Contraction
The Jones family got a raise
Bad economy...
Expansion

11

Supply = ???

Producers
Consumers
Star Wars
Competition

12

Who takes from both sides of the circular flow?

Businesses
The Minions
Government
Lawyers

13

I am an example of inelasticity...

Medicine
Toilet paper
Petes
Clothing

14

Govt. divides profits equally among everyone...

Capitalism
Democracy
Liberalism
Communism

15

What drives the economy?

Black Death
"Invisible hand" or consumers
Circular Flow
Producers

16

What is the point where the 2 lines meet?

Equilbrium price
Selling Price
Middle Price
Penguins look like they're wearing tuxedos?

17

Demand = ???

Free Market
Consumers
Producers
Dance Dance Revolution

18

What is this graph describing?

Supply/Demand
Pizza
Fast and the Furious
Prices

Unit 8 Economics

Questions 18

Unit 8 Economics

Questions 18