Download 1 - Humble ISD

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Chapter 7
Laissez-faire
Market structure
Perfect competition
Imperfect
competition
Monopolistic
competition
Product
differentiation
Nonprice
competition
Oligopoly
Collusion
Price-fixing
Monopoly
Natural monopoly
Economies of scale
Geographic
monopoly
Technological
monopoly
Government
monopoly
Market failure
Externality
Negative externality
Positive externality
Public goods
Trust
Price discrimination
Cease and desist
order
Public disclosure
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Chapter 9
Sin tax
Incidence of a fax
Tax loophole
Individual income
tax
Sales tax
Benefit-principle of
taxation
Ability-to-pay
principle of taxation
Proportional tax
Average tax rate
Progressive tax
Marginal tax rate
Regressive tax
Payroll withholding
system
Internal Revenue
Service (IRS)
Tax return
Indexing
FICA
Medicare
Payroll tax
Corporate income
tax
Excise tax
Luxury good
Estate tax
Gift tax
Customs duty
User fee
Intergovernmental
revenue
Property tax
Tax assessor
Payroll withholding
statement
Accelerated
depreciation
Investment tax
credit
Surcharge
Alternative
minimum tax
capital gains
Value-added tax
(VAT)
Flat tax
Chapter 11
1. Barter economy
2. Money
3. Medium of
exchange
4. Measure of value
5. Store of value
6. Commodity money
7. Fiat money
8. Specie
9. Monetary unit
10. Monetary standard
11. State bank
12. Legal tender
13. United States note
14. National bank
15. National Bank note
16. National currency
17. Gold certificate
18. Silver certificate
19. Treasury coin note
20. Gold standard
21. Inconvertible fiat
money standard
22. Federal Reserve
System
23. Central bank
24. Federal Reserve
note
25. Run on the bank
26. Bank holiday
27. Commercial bank
28. Demand deposit
account (DDA)
29. Thrift institution
30. Mutual savings
bank (MSB)
31. Savings bank
32. NOW accounts
33. Savings and loan
association (S&L)
34. Credit union
35. Share draft account
Deregulation
36. Creditor
Chapter 15
1. Member bank
2. Bank holding
company
3. Currency
4. Coins
5. Monetary policy
6. Fractional reserve
system
7. Legal reserves
8. Reserve
requirement
9. Excess reserves
10. Liabilities
11. Assets
12. Balance sheet
13. Net worth
14. Liquidity
15. Savings Account
16. Time Deposit
17. Reserve
Requirement
18. Discount Rate
19. Moral Suasion
20. Prime rate
Economics Vocabulary List
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Chapter 1
Scarcity
Economics
Need
Want
Factors of
production
Land
Capital
Financial capital
Labor
Entrepreneur
Production
Gross Domestic
Product (GDP)
Economic product
Good
Consumer good
Capital good
Service
Value
Paradox of value
Utility
Wealth
Market
Factor market
Product market
Economic growth
Productivity
Division of labor
Specialization
Human capital
Economic
interdependence
Trade-off
Opportunity cost
Production
possibilities frontier
Cost-benefit
analysis
Free enterprise
economy
Standard of living
Chapter 2 & 18.1
1. Economy
2. Economic system
3. Traditional
economy
4. Command economy
5. Market economy
6. Social Security
7. Inflation
8. Fixed income
9. Capitalism
10. Free enterprise
11. Voluntary exchange
12. Private property
rights
13. Profit
14. Profit motive
15. Competition
16. Consumer
sovereignty
17. Mixed economy
18. Modified private
enterprise economy
19. Capitalism
20. Socialism
21. Communism
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Chapter 3
Sole proprietorship
Proprietorship
Unlimited liability
Inventory
Limited life
Partnership
Limited partnership
Bankruptcy
Corporation
Charter
Stock
Stockholder
Shareholder
Dividend
Bond
Principal
Interest
Double taxation
Merger
Income statement
Net income
Depreciation
Cash flow
Horizontal merger
Vertical merger
Conglomerate
Multinational
Nonprofit
organization
Cooperative
Co-op
Credit union
Labor union
Collective
bargaining
Professional
association
Chamber of
commerce
Better Business
Bureau
Public Utility
Chapter 4, 5, 6
1. Microeconomics
2. Diminishing
marginal utility
3. Price
4. Rationing
5. Ration coupon
6. Rebate
7. Market equilibrium
8. Surplus
9. Shortage
10. Equilibrium price
11. Price ceiling
12. Price floor
13. Income effect
14. Substitution effect
15. Law of Supply
16. Law of Demand