Economy marked by high unemployment, acute shortages and excess manufacturing capacity
There is no such thing as a ___ lunch
the loss of potential gain from other alternatives when one alternative is chosen is an opportunity ____
A union which of skilled workers who perform the same kind of task
An economy in which the decisions regarding investment, production and distribution are guided by the price signals created by the forces of supply and demand
A business jointly owned by two or more people
Created by limited resources and unlimited wants
One who assumes the risks of business
Government agency which regulates the stock market
An economy system that relies on customs, history, and time-honored beliefs.
Law that states as prices go up, producers will make more of a product
Tax which tries to discourage certain types of behavior
Creates all paper currency in the United States
a state of limited competition, in which a market is shared by a small number of producers or sellers
Point at which all products produced are consumed; where supply and demand curves cross
Competition in a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers
Inflation of over 500% a year
When the aggregate demand in an economy strongly outweighs the aggregate supply, you have demand ____ inflation
Type of money having value or use in themselves (intrinsic value) as well as their value in buying goods.
The share of profits a business gives to its stockholders
Type of unemployment which occurs from people being between jobs
The Federal Reserve has a great deal of control of the nations ____ policy
Good which should last for three years or more
Demand curve moves down and to the ______