Econ Final

A good where demand increases when income of consumers decreases is called?

The study of how society manages its scarce resources is what?

 What does a stock certificate do for you if you purchase one?

Which example below is what you study in macroeconomics?

What is a all of your financial assets in one location?

Diminishing Marginal Returns - the production of a product will increase then the marginal product will _____

This market structure is where a couple firms will dominate a certain market.

Workers do not have skills that are specifically required for the job, is called what?

This will rise or fall based on the Economy, what is it? 

This type of company is when one joined or buys another company.

Two goods that are bought and used together (cannot have one without the other)

The largest and the most powerful stock market 

This market structure has many different firms in it and they produce IDENTICAL products.

This represents the largest corporations that are bought and sold on the stock market.

Is this a price CEILING?

 When you study an individual company (firm) and how it makes decisions on production is an example of what?

Why do managers of a company earn more than a regular worker? (Example in Fast Food)

When should a stockholder sell their stocks in order to MAKE money?

Based off of the statements below, which one describes how money is used?

Workers are only needed for a certain part of the year, what is this called?

How do banks make money? (Revenue) 

Why were labor unions created?

A doctor performing a surgery is an example of what?

out of all of the examples below, what is a variable cost?

If there is a decrease in price how does it impact the supply?

Why do you want to diversify (have more investment options) with your investment portfolio?

 What is the term called when you deduct revenue from the cost of production?

this type of economic system is based on “custom and tradition”

a consumer going to a hamburger place to get a hamburger is an example of what?

if there is an increase in the good’s price how will the quantity demand be impacted?

The loss of a stockholder is based on what?

When people decide to make a “run on the bank” (example during the Great Depression) what can happen?   

a change in the income of someone will impact a good how?

Creating products that are then sold in a market is called?

A good where demand increases when income of consumers increases is called?

What happens to money that banks receive in the from of deposits?

 Fed Gov decided to make a product “illegal” to sell across the US, what would happen to that “market” for that product?

How much control do stockholders have over the business they invest in?

What is this “cost” called when it does NOT change, no matter how many goods are produced?

Which type of company: “the owner has complete financial and legal responsibility for the business”

worker search a long time to find a job, what is this called?

This market structure is where one firm controls an entire market. There is NO competition

What “essential questions” does a society need to answer in regards to their economy?

 What is the advantage of creating a partnership?

This is a list of the “top 500 corporations” that are currently in the stock market

the most desirable alternative given up because of a decision is known as what? 

Based on the explanations below, which one describes a Product Market?

This type of market structure has many firms and produce similar but NOT identical products

In the labor market, supply and demand for labor combine to create what?

Is this a price Floor?

Land, labor and capital are all part of what?

This type of business is owned and operated by one person. This is called what?

This type of company represents a merger of three or more companies producing unrelated products.

two goods that are bought in place of another good (instead of)

How does a product go through inelastic demand?

What type of investment is being describe: “low risk investment”