I Can Statements 1-4 Vocab

Question 1

Economics

Answer 1

Social Science of production, distribution and consumption of goods in an economy.

Question 2

Microeconomics

Answer 2

The study of individuals, households or local economies. What they spend on, and what they spend business wise.

Question 3

Macroeconomics

Answer 3

How larger corporations, or governments affect economies

Question 4

Personal Finance

Answer 4

The ability to maintain good knowledge of your own personal money.

Question 5

Market Basket

Answer 5

Consumer goods or services that are tracked for calculating CPI and cost of living

Question 6

Consumer Price Index (CPI)

Answer 6

The average change over time of prices in urban areas

Question 7

Gross Domestic Product (GDP)

Answer 7

The value of goods and services in a given year

Question 8

Employment Rate

Answer 8

How much of the labor force is employed

Question 9

Unemployment Rate

Answer 9

The number of jobs without employment

Question 10

Inflation

Answer 10

The decrease of the value of a dollar