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Economics Basics Flashcards | StudBud
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Economics Basics
Economics Basics
18 terms
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Test your knowledge on fundamental concepts and indicators in economics
Flashcards
18 cards
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Practice quiz
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Questions
18
Answers
1
Which is an example of economic equity?
Income redistribution
High GDP
Price stability
Technological progress
2
What does economic stability include?
Income redistribution
High unemployment
Steady growth
High inflation
3
What is economic freedom limited by?
Laws and taxes
High GDP
SNAP
Job training
4
Which is a measure of economic performance?
Population growth
Weather patterns
Unemployment rate
Social media trends
5
What is economic security?
Protection against risks
Price stability
High GDP
Technological progress
6
What does economic efficiency mean?
Equal income for all
Using resources wisely
Rising prices
High unemployment
7
What is a sign of economic growth?
Lower wages
Decreased GDP
High unemployment
Increased production
8
What is inflation?
Falling prices
Equal income
Stable prices
Rising prices
9
What does economic equity involve?
Technological progress
Fairness
Price stability
High GDP
10
What does economic freedom allow?
No taxes
Guaranteed income
No regulations
Choosing what to buy
11
What does GDP stand for?
Global Debt Policy
General Development Plan
Government Debt Projections
Gross Domestic Product
12
What does economic efficiency mean?
Maximizing resource use
Equal distribution of wealth
Increasing taxes
Limiting production costs
13
What is necessary for economic growth?
Price instability
High unemployment
Income redistribution
Capital investment
14
Which program helps low-income families?
Tax incentives
SNAP
Business grants
Investment funds
15
What is economic growth focused on?
Equal opportunity
Increasing GDP per capita
Limiting production
Reducing taxes
16
What does economic growth lead to?
Income redistribution
Price instability
High unemployment
Higher standard of living
17
What does price stability prevent?
Rapid price changes
Job creation
High wages
Increased production
18
Which is a goal of economic equity?
Maximizing profits
Equal opportunity
Reducing costs
Increasing taxes
