41 terms

TExES Core 4-8 (Economics)

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commercial bank
a traditional bank that provides services such as checking and savings accounts, credit cards, and home and auto loans
investment bank
a bank that specializes in services for companies rather than individuals. sells and manages stocks and bonds and assists when two companies merge or join together
bonds
certificates sold by companies or govs. in order to raise money
capital goods
items used in the creation of other goods (factory machinery, trucks)
consumers
people who use goods and services
consumer goods
goods that are intended for final use by the consumer
credit
the ability to borrow money
demand
the quantity of a good or service a consumer is willing and able to purchase at a specific price
depression
a long period during which the economy is poor and many people are without
Dow Jones Industrial Average
and indicator of how the stock market is performing
durable goods
any good that lasts more than three years when used on a regular basis
economics
the study of the production and distribution of goods and services
economy
the way a country manages its money and resources to produce, buy, and sell goods and services
capital
investment monies
FDIC (Federal Deposit Ins. Corp)
the gov agency that insures bank deposits. created in 1933
federal reserve
often called "the fed". only used by other banks and the federal gov
foreclosure
a process in which homeowners lose their property to the bank or mortgage company because they have fail to make their mortgage payment
goods
tangible commodities that are bought, sold, traded and produced
inflation
a general increase in prices across the economy over a period of time
interest
the fee for using someone else's money
interest rate
the percentage at which interest is charged or paid
investment
anything that is purchased with the hope that it will generate income or be more valuable at a future date
layoff
the loss of a job when a company cuts costs
loan/lend
money borrowed from a bank or other lender
monopoly
occurs when there is only one seller who provides a product or service
mortgage
a loan that is used to buy a house
national debt
the amount of money a country owes
non-durable goods
any item that lasts less than three years when used on a reg basis
personal debt
the amount of money an individual person owes
productivity
the ability to produce vast amounts of goods in an efficient manner
profit
the difference between the total revenue earned by a company and the total cost incurred in producing a product
recession
a drop in economic growth that lasts at least six months
regulations
rules of conduct for banks, stock markets, and other financial institutions
scarcity
the basic economic problem that arises because people have unlimited wants but resources are limited
services
work that is performed fro someone (non-tangible items)
stock
and ownership interest in a company
stock market
a place where stocks are bought and sold
supply and demand
one of the most basic concept in economics.
supply- how much of something is available
demand- how much of something people want
taxes
man way people pay for the gov
Treasury Department
part of the federal gov that manage the nation's money
wealth
the value of all the property, possessions, and money that someone or something has