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10 Cards in this Set

  • Front
  • Back
Government intervention to alter market structure or prevent abuse of market power
antitrust
The time period used for comparative analysis; the basis for indexing, e.g., of price changes
base year
Final goods produced for use in the production of other goods, e.g., equipment, structures
capital
Production processes that use a high ratio of capital to labor inputs
capital-intensive
The assumption of nothing else changing
ceteris paribus
Goods frequently consumed in combination; when the price of good x rises, the demand for good y falls, ceteris paribus
complementary goods
The willingness and ability to buy specific quantities of a good at alternative prices in a given time period, ceteris paribus
demand
A curve describing the quantities of a good a consumer is willing and able to buy at alternative prices in a given time period, ceteris paribus
demand curve
A table showing the quantities of a good a consumer is willing and able to buy at alternative prices in a given time period, ceteris paribus
demand schedule
The consumption of capital in the production process; the wearing out of plant and equipment
depreciation