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25 Cards in this Set
- Front
- Back
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Market Structures |
Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly |
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Ben Bernanke |
Former Chairman of The Fed |
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Janet Yellin |
Current Chairman of the Fed |
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The Fed |
Provides Services to Banks and Serves as Govt. Bank |
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FDIC |
Federal Deposit Insurance Company- Insures our Deposits up to $250,000 |
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Supply |
Amount of product someone has |
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Demand |
Amount of demand for product |
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Types of Business structures |
Partnership, Sole Proprietorship, Corporation, Franchise |
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Partnership |
A business owned by two or more people |
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Sole Proprietorship |
A business owned and managed by a single individual |
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Corporation |
A form of business that is created by law that is run by two or more people called stockholders |
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Franchise |
A semi-independent business that pays fees to a parent company |
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Anticipated Inflation |
Good, Healthy. |
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Unanticipated Inflation |
Bad, Hurtful |
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Creeping Inflation |
1-3% inflation |
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Hyperinflation |
100-500% inflation |
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Chronic Inflation |
Changes from month to month |
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Demand Pull |
Demand for good goes up, so price goes up |
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Cost Push |
Cost of producing goods goes up, so price goes up |
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CPI (Consumer Price Index) |
The measure of the average change over time in the price of a fixed group of products |
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Market Basket |
Food, Clothing, Shelter, Health Care, Entertainment |
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Types of Money |
Commodity Money, Representative Money, Fiat Currency |
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Commodity Money |
An item that has value of it's own and can be used as money |
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Representative Money |
A country's currency that has value because it can be exchanged for a fixed amount of a valuable commodity |
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Fiat Currency |
A currency that a government has declared to be legal tender, but is not backed by any commodity |
