Economics Final Review

How can you still make money in a bear market?

What is the opportunity cost of increasing production of wheat from 3 (B) to 9 (D)?

When quantity demanded is the same as quantity supplied:

Finish this thought: Resources are. . . 

Goods that can replace each other are called:

What does the picture represent?

What are goods and services bought from another country?

What is a bull market?

Laws made to break up monopolies are called:

When one country is better at producing everything, what kind of advantage do they have?

The value of your next best choice in a decision.

How do banks earn most of their money?

Which kind of economic system is the U.S. closest to?

What is the term for all the time, effort, and talent that goes into production?

What form of business gives all profits to one individual?

Minimum wage is an example of what?

Borrowing stock from your broker and hoping it goes down is:

What is Economics?

Which level of competition is best for the consumer?

If only 3 companies dominate supply, what level of competition exists?

Name of one of the deer behind my desk

Too much money chasing limited numbers of goods is called

How do individuals choose?

When supply is greater than demand:

What does a price floor create?

Which is true of an elastic good?

Who is the chairman of the FED?

Which kind of money has no backing?

Which of the following is a characteristic of a monopoly?

What happened to Supply?

When comparing prices from the past, what economic indicator should you use?

a corporation is funded by:

What is the study of the economy on a large scale?

The dollar has less buying power today compared to the dollar in the past

What is the term for when you sell stock for more than you bought it?

What is the FEDs most important job?

What does the picture represent?

What is a tax on an import  called?

A stocks 52 week chart will tell you what?

Who wrote "The Wealth of Nations?"

6 to 18 months of low GDP and high unemployment

to make 10 t-shirts you go from producing 100 shoes down to 75 shoes; opportunity cost?

What kind of economic system has the gov't own the factors of production?

What established the Federal Reserve System

If the FED lowers the discount rate, what happens to the money supply?

What is the greatest advantage to investing in a mutual fund?

What is the reserve requirement?

What is taken into account when computing comparative advantage?

What is profit?

What is the term for work that you can buy?