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ECONOMICS FINAL EXAM
REVIEW SHEET
Demand
Supply
Law of Demand
Law of Supply
Change in quantity supplied
Changes in supply
Changes in demand
Changes in quantity demanded
Equilibrium
Production costs and supply
Unitary curve
Inelastic curve
Elastic curve
Shift in supply
Determinants of supply
Surplus
Shortage
Economics
Voluntary exchange
Scarcity
Factors of Production
Chairman of the Federal Reserve
Entrepreneurs
Command Market
Market system
Opportunity cost
Economic Trade-off
Law of increasing cost
Mixed-market system
Normative economics
Positive economics
Income
Household
Disposable income
Personal Income
Lorenz Curve
Poverty Rate
War on Poverty
Negotiation steps
3 types of sales
Impulse buy
Inflation
Inflation and the relationship to interest rates
Dollar-cost-averaging
Beta
Book value
Price/earnings ratio P/E
Bearish
Bullish
Round lots
Mutual Funds
Adam Smith
Profit
Aggregate
Economy of scale
Mass Productions
Business cycle
Laissez-faire
Contraction
Consumption expenditures
Microeconomics
Macroeconomics
Simon Kuznets
Depreciation
Gross Domestic Product
Federal Reserve Bank
National Income
Individual Income
Household Income
Full employment
Interest
Yield
Cost-push inflation
Demand-pull inflation
Trough
Depression
Recession
Peak