Introduction to Economics Flashcards

1

The number of goods and services that money can buy, which can be impacted by inflation, is known as:

2

A down economy, also known as a recession, is a period in which unemployment decreases and spending increases.

3

The rising prices of good and services over time is referred to as:

4

In economics, the total amount of a good or service that is available to buy is referred to as:

5

In economics, when supply stays constant but demand increases, prices will:

Introduction to Economics