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CATEGORY
CATEGORY
CATEGORY
CATEGORY
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Having unlimited wants, but
limited resources
is called.
What is scarcity ?
RETURN
Row 1, Col 1
What to produce?
How to produce?
For whom to produce?
What is one of the three basic
questionsRETURN
for economics?
1,2
Traditional,
market,
command,
mixed
What are two types of
economic systems?
RETURN
1,3
As price goes one way,
quantity demand goes the
other way.
What is law of demand?
RETURN
1,4
As price goes one way,
quantity supply goes the
same way.
What is law of supply?
RETURN
2,1
Land, labor, capital.
What are the factors of
production?
RETURN
2,2
When barriers prevent
firms from entering.
How is a monopoly formed?
RETURN
2,3
When a large number of financers
are producing same product.
What is perfect competition?
RETURN
2,4
Markets being dominated by a
few large, profitable
firms.
What is oligopoly
?
RETURN
3,1
5% and less.
What is the full
employment?
RETURN
3,2
Interest rates, stock market
inflation, new projects
sales.
What are economic indicators?
RETURN
3,3
Medium exchange, unit of account,
and store value.
What are three
usesRETURN
of money?
3,4
Arbitration, strike, lockout
and mediation.
What are two ways to solve
a labor
dispute?
RETURN
4,1
Structural, seasonal, frictional
and cyclical.
What are two types of
unemployment?
RETURN
4,2
Black market, pollution,
volunteer, quality of life.
What are three limitations
ofRETURN
GDP?
4,3
Shortages, rationing, drops in
quality.
What are some effects of
setting a RETURN
price too low?
4,4
Surpluses, storage problems,
disposal problems
What are some effects of setting
a price
to high?
RETURN
5,1
Durable, scarce, accepted,
stable, importable
divisible.
What are the
characteristics
RETURN of money?
5,2
Commodity, fiat,
representative.
What are the sources of
money?
RETURN
5,3
Expansion, peak, contraction, trough
What are four stages of the business cycle?
RETURN
5,4