• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

Card Range To Study

through

image

Play button

image

Play button

image

Progress

1/70

Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

70 Cards in this Set

  • Front
  • Back
Price Ceiling
A maximum price for a good or service
Disequilibrium
Any price or quantity not equilibrium
Unskilled Labor
This type of labor requires no specialized skills, education, or training
Monopoly
A market dominated by a single seller
Partnership
A business organization owned by two or more persons who agree on specific division of responsibilities and profits
Bull Market
When the stock steadily rises over a period of time
Supply-Side Economics
A school of economics that believes that tax cuts can help an economy by raising supply
Oligopoly
A market structure in which a few large firms dominate a market
Shares
Units in which ownership of a coporation are sold in
Money
Anything that serves as a medium of exchange, a unit of account, and a store of value
Fiscal Policy
The use of government spending to influence the economy
Collective Bargaining
The union and company representatives meet to negotiate a new labor contract
Sherman Antitrust Act
This act, created in 1890, banned monopolies and other business combinations that prevented competition
Shortage
This happens when quantity demanded is more than quantity supplied (excess demand)
Bartering
This is how people acquire goods and services without money, used only in a traditional economy
Karl Marx
A philosopher and political economist known better as a communist and author of the Communist Manifesto
Federal Reserve
This governmental division supervises and regulates banks, implents monetary policy, controls the amount of currency in circulation, and sets reserve ratios
Inflation
A general increase in prices
Equilibrium
The point at which quantity demanded and quantity supplied are equal
Natural Monopoly
A market that runs most efficiently when one large firm supplies all the output, like public water
Sole Proprietorship
A business owned and managed by a single individual
Bank
An institution for receiving, keeping, and lending money
Stock Split
This happens when each single share of stock spilts into more than one share, to encourage investors to buy stock
Demand-Side Economics
The idea that government spending and tax cuts help and economy by raising demand
Communist Manifesto
This book lays out the foundation of communism by describing the conflict between the proletariat and the bourgeois as leading to revolution
Trickle Down Effect
Investing money into companies and giving them tax breaks will benefit the economy because eventually consumers will experience the effects
N.Y.S.E. (New York Stock Exchange)
The countrys largest and most powerful exchange
Professional Labor
This type of labor demands advance skills and education
Right to Work (State)
This is a measure that bans mandatory union membership; North Carolina is one
Surplus
When quantity supplied is more than quantity demanded (excess supply)
Commodity
A product that is the same no matter who produces it
Government Monopoly
A monopoly created by the government
Strike
An orgranized work stoppage intended to force an employer to address union demands
Monopolistic Competition
A market structure in which many companies sell products that are similar but no identical
Deflation
A substantial drop in prices
Corporation
A legal entity owned by individual stockholders
Bear Market
When the stock market steadily falls over a period of time
Price Floor
A minimum price for a good or service
Skilled Labor
This type of labor requires specialized abilities and training to do tasks
Arbitration
The neutral third party reviews the case and imposes a decision that is legally binding for both sides
Horizontal Merger
The joining of two or more firms competing in the same market with the same good or service
Semi-Skilled Labor
This type of labor requires minimal specialized skill and education
NASDAQ (National Association of Securities Dealers Automated Quoatation)
The American market for over the counter stocks
Federalist
This group of people believed a centralized baking system was necessary
Commerical Banks
These banks offer checking services, accept deposits, and make loans
Conglomerate
The merging of more than three businesses that make unrelated products
Capital Gain
Money made when an investor sells stock for more than he or she paid for it
Stockbrokers
These people link buyers and sellers of stock, they work for a brokerage firm
Dividends
A portion of a corporations profit paid out to stockholders quarterly
Expansionary Policy
A policy that states during a recession or depression the government should increase spending or decrease taxes
Vertical Merger
The joining of two or more firms involved in difference stages of production of the same good or service
Keynes
The person who developed the idea of demand-side economics, which encourages government action to increase and decrease demand and output
Multinational Corporations
A large corporation that produces and sells it s goods and services throughout the world
Savings and Loans
Originally created when members deposited funds into a genreal fund and then borrowed money to borrow their own homes; now serves many of the same functions as a bank
Mediation
Neutral mediator meets with each side to try to find some solution and the decision reached is nonbinding
Labor Union
An organization that tries to improve working conditions, wages, and benefits for its members
Capital Loss
Money lost when an investor sells stock for less than he or she paid for it - when a company doesn't make a profit
Anit-Federalist
These people wanted a decentralized banking system where banks were operated by the states
Credit Union
Cooperative lending associations for paricular groups (ex. state employees), usually small, specialize in home mortgages and car loans, some provide checking/saving
Colletral
Property used to secure a loan
Decrease
During times of recession and depression the Fed _______ interest rates. (this encourages lending and discourages savings)
Contractionary Policy
A policy that during inflation the government should decrease spending or increase taxes
Increase
During times of inflation the fed ____ interest rates (this encourages savings and discourages lending)
Richmon Federal (District)
Of the Federal Reserve districts, North Carolina belongs to this one
Dow Jones / S&P 500
Used to determine stock performance by either examining 30 large companies or 500 companies
Wage Discrimination
This occurs when people with the same job, same skills and education, same job performance, and some seniority recieve unequal pay. Women and minorities are among those who have experienced this
OTC Market
Stock sold electronically
Great Crash of 1929
After the market reached an all-time high in 9/1929, over-speculation, inflated stock values, and buying on the margin led to a huge and swift fall in stock values - later caused the Great Depression
Day Traders
These people buy and sell stock rapidly in hopes of trying to make a profit. This is really risky
Antitrust laws
These are laws that encourage competition in the market