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ECON Documents

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ECON Flashcards

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  • 104 terms

    Term:

    Because human wants are insatiable and unlimited while available resources are limited, people are said to face the problem of

    Definition:

    scarcity

    • FTC1
    • 104 terms
    • Vocabulary for FTC1. Find, create, and access Macroeconomics, Wgu, flashcards with Course Hero.
  • 103 terms

    Term:

    Scarcity

    Definition:

    Because human wants are insatiable and unlimited while available resources are limited, people are said to face the problem of

    • Macroeconomics practice final
    • 103 terms
    • Vocabulary for Macroeconomics practice final. Find, create, and access flashcards with Course Hero.
  • 37 terms

    Term:

    LAW OF DEMAND

    Definition:

    Law of Demand states other things remaining the same, if the price of a good rises, the quantity demanded of the good decreases, and if the price of a good falls, the quantity demanded of that good increases.

    • SUPPLY AND DEMAND
    • 37 terms
    • Vocabulary for SUPPLY AND DEMAND. Find, create, and access Macroeconomics, flashcards with Course Hero.
  • 47 terms

    Term:

    Should we collect tolls on turnpikes using human toll collectors or mechanized toll machines?

    Definition:

    How Question

    • Macroeconomics Practice test 2
    • 47 terms
    • Vocabulary for Macroeconomics Practice test 2. Find, create, and access Macroeconomics, flashcards with Course Hero.
  • 26 terms

    Term:

    Describe three Basic Economic Questions

    Definition:

    What determines the amounts of goods and services produced; How are they produced: For Whom are the good and services produced

    • Economic Way of Thinking
    • 26 terms
    • Vocabulary for Economic Way of Thinking. Find, create, and access Macroeconomics, flashcards with Course Hero.
  • 8 terms

    Term:

    Hyperinflation

    Definition:

    When the inflation rate exceeds 50 percent a month

    • Macroeconomics
    • 8 terms
    • Vocabulary for Macroeconomics. Find, create, and access Macroeconomics, flashcards with Course Hero.
  • 21 terms

    Term:

    Other things remaining the same, the quantity demanded of a good _________ as the price of the good________

    Definition:

    decreases, increases

    • Macroeconomics
    • 21 terms
    • Vocabulary for Macroeconomics. Find, create, and access flashcards with Course Hero.
  • 25 terms

    Term:

    Unemployed

    Definition:

    Person must be available to work but unable to find work, but making an effort A person is waiting to be recalled back to a job from which they have been laid off

    • JOBS EMPLOYMENT and OUTPUT
    • 25 terms
    • Vocabulary for JOBS EMPLOYMENT and OUTPUT. Find, create, and access Macroeconomics, flashcards with Course Hero.

ECON Courses with Advice

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