This class was created by Brainscape user Jordan Novak. Visit their profile to learn more about the creator.

Decks in this class (10)

Chapter 1: The Economic Way of Thinking
Desires that can be met by consum...,
Things necessary for survival,
Lack of resources available to me...
35  cards
Chapter 2: Economic Systems
Economic system that centers on f...,
The way in which a society uses i...,
Economic system where the governm...
25  cards
Chapter 4: Demand
When the price of a good or servi...,
The willingness to buy a good or ...,
A table the summarizes one consum...
22  cards
Chapter 6: Demand and Supply
Price at which quantity demanded ...,
At a certain price quantity deman...,
Prices tend to fall producers cut...
16  cards
Chapter 3: The American Free Enterprise System
Ability to enter compete in marke...,
Everyone has same economic rights...,
Right to decide which legal agree...
22  cards
Chapter 12: Economic Indicators and Measurements
The market value of all final goo...,
A way of evaluating a country s e...,
What are the three gdp requirements
48  cards
Chapter 13: Facing Economic Challenges
Percent of labor force jobless an...,
People over 16 who are working lo...,
Determines unemployment rate divi...
32  cards
Chapter 7: Market Structures
Economic model of competition wit...,
Ideal model of a market economy,
What are the 5 characteristics of...
27  cards
Chapter 5: Supply
The desire and ability to produce...,
When prices decrease quantity sup...,
Lists how much of a good or servi...
34  cards
Econ Semester Review
A situation that exists when ther...,
The value of something that is gi...,
The economic resources needed to ...
64  cards

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Economics

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