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9 Cards in this Set
- Front
- Back
Economics
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The study of choices
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Macroeconomics
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Deals with broad issues that impact the economy as a whole
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Microeconomics
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Focuses on the study of individual choices or decisions made by smaller units, such as a firm
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Demographics
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The study of human populations
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The baby boom period
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A period of very high birth rates that occurred between 1946 and 1964
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Gross domestic product(GDP)
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The total dollar amount of all final goods and services purchased in a given year
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Recession
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A period of time in which the economy is shrinking
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Depression
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A severe recession
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Business cycle
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Alternating periods of shrinking, and growth, or expansion
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