Study sets matching "economcis"

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Study sets matching "economcis"

26 terms
Economcis
Economics
Scarcity
Shortage
Land, Labor, Capital
The study of how people seek to satisfy their needs and wants…
When there is a limited quantity or resources to meet unlimit…
A situation in which a good or service is unavailable.
Three groups of resources that are used to make all goods and…
Economics
The study of how people seek to satisfy their needs and wants…
Scarcity
When there is a limited quantity or resources to meet unlimit…
economcis
Traditional Economy
Command Economy
Market Eonomy
Mixed Economy
Traditions decide how things are run and how they are suppose…
Government decides what to produce and who to produce for.
Consumers decide what to produce and how to produce.
Both the Government and consumers get to decide what to produ…
Traditional Economy
Traditions decide how things are run and how they are suppose…
Command Economy
Government decides what to produce and who to produce for.
Chapter 1 Economcis
need
want
economics
goods
necessary for survival
an item that we desire but not essential
the study of how people seek to satisfy their needs and wants…
physical objects
need
necessary for survival
want
an item that we desire but not essential
16 terms
Key Concepts for Principles of Economcis
scarcity
economics
efficiency
equity
the limited nature of society's resources
the study of how society manages its scarce resources
the property of society getting the most it can from its scar…
the property of distributing economic prosperity fairly among…
scarcity
the limited nature of society's resources
economics
the study of how society manages its scarce resources
10 terms
Dorsey Economcis 1.1 Vocabulary
Scarcity
Economics
Need
Want
The condition that results from society not having enough res…
The study of how people try to satisfy seemingly unlimited an…
A basic requirement for survival such as food, clothing and s…
Something we would like to have but is not necessary for surv…
Scarcity
The condition that results from society not having enough res…
Economics
The study of how people try to satisfy seemingly unlimited an…
6 terms
Topic 3 market economcy
the market economy: firms provide ____…
the market economy: market for goods a…
the market economy: market for goods a…
the market economy: households provide…
supply (placing goods/output)
$ revenue
flow, food (consumption)
demand ($ expenditure)
the market economy: firms provide ____…
supply (placing goods/output)
the market economy: market for goods a…
$ revenue
UNIT IV VOCAB WORDS FOR CIVICS AND ECONOMCIS
Impeachment
Electoral College
Executive Order
Sanction
To accuse government officials of misconduct
Group of people named by each state legislature to select Pre…
a rule or order issued by the president to an executive branc…
official permission or approval for an action
Impeachment
To accuse government officials of misconduct
Electoral College
Group of people named by each state legislature to select Pre…
16 terms
Macro Lecture #4 (Intermediate Macro Economcis)
What is the Fed maximum target for the…
Which price index does the Fed target?
What is excluded from the "core" rate…
If I move $100 from my savings to my c…
2%
Person consumption... expenditure (PCE)
Food and energy price changes
M1 UP and M2 not changed
What is the Fed maximum target for the…
2%
Which price index does the Fed target?
Person consumption... expenditure (PCE)
24 terms
Macro Lecture #7 (Intermediate Macro Economcis)
AD (MS x V) can also be described as t…
Which is the biggest of the four(Consu…
What is the most volatile of the four…
What is the smallest of the four (Cons…
Consumption, Investment, Govt. purchases, and net exports
Consumption
Investment
Net Exports
AD (MS x V) can also be described as t…
Consumption, Investment, Govt. purchases, and net exports
Which is the biggest of the four(Consu…
Consumption
12 terms
Macro Lecture #8 (Intermediate Macro Economcis)
If the MS goes down and/or velocity go…
An increase in the value of the dollar…
Congress passes a 20% wage increase fo…
Factor suppliers expect the inflation…
R is UP... AD is DOWN... Inflation is DOWN... Unemployment is DOWN
Decrease... P&Q are DOWN
AS is DOWN... P is Down ... Q is down
AS is DOWN... P is Down ... Q is down
If the MS goes down and/or velocity go…
R is UP... AD is DOWN... Inflation is DOWN... Unemployment is DOWN
An increase in the value of the dollar…
Decrease... P&Q are DOWN
No homework
birthplace
the flu
stay
grade
native land
illness
wait
group
birthplace
native land
the flu
illness
5 terms
ECON - Chapter 14
Average Revenue
Marginal Revenue
Short Run Decision
Long Run Decision
Total Revenue/Quantity
Change in TR/Change in Q
Shut down if P<ATC
Exit if P<ATC... Enter if P>ATC
Average Revenue
Total Revenue/Quantity
Marginal Revenue
Change in TR/Change in Q
5 terms
ECON - Chapter 6
Price Ceiling
PC (binding)
Price Floor
PF (binding)
Price can not rise above this amount
Placed below equilibrium
Price can not drop below this amount
Place above equilibrium
Price Ceiling
Price can not rise above this amount
PC (binding)
Placed below equilibrium
7 terms
Principles
1
2
3
4
People Face Trade-Offs
The Cost of Something is What You Give Up to Get It
Rational People Think at the Margin
People Respond to Incentive
1
People Face Trade-Offs
2
The Cost of Something is What You Give Up to Get It
Migration Categories
Political
Environmental
Social
Social
A Civil War
A tornado destroys your home
Religious Freedom
Persecution based on Race
Political
A Civil War
Environmental
A tornado destroys your home
13 terms
Thinking Like an Economist
Circular Flow Diagram
Firms
Households
Markets for Goods and Services
Economy is simplified into firms and households
Produce goods and services using factors of production (labor…
Own factors of production and consume goods and services
Households are buyers and firms are sellers
Circular Flow Diagram
Economy is simplified into firms and households
Firms
Produce goods and services using factors of production (labor…
ECON 102 Chapter 6
Consumer surplus
Producer surplus
Consumer surplus-graphically
Producer surplus-graphically
extra amount of money consumers were willing to pay for a qua…
extra amount of money producers received for a quantity of pr…
area under the demand curve and above the price
area above the supply curve and below the price
Consumer surplus
extra amount of money consumers were willing to pay for a qua…
Producer surplus
extra amount of money producers received for a quantity of pr…
19 terms
Principles of Economics
Why we study economics
Economics
Scarcity
Resources
Intellectual Value... Practical Purpose ... Government Bodies
The study of how society manages its scare resources
limited nature, demand > supply
Inputs used to produce goods and services
Why we study economics
Intellectual Value... Practical Purpose ... Government Bodies
Economics
The study of how society manages its scare resources
17 terms
ECON - Chapter 13
Total Revenue
Total Cost
Profit
Explicit Costs
Price x Quantity
Explicit Cost - Implicit Cost
TR - TC
Require an outlay of money
Total Revenue
Price x Quantity
Total Cost
Explicit Cost - Implicit Cost
11 terms
ECON - Chapter 5
Elasticity
PE of Demand
PE of Supply
Elastic Determinants (Demand)
the measure of how much buyers and sellers respond to changes…
the measure of how much the quantity demanded responds to pri…
the measure of how much the quantity supplied responds to pri…
Goods with substitutes... Luxuries... Narrowly defined goods... Long Run
Elasticity
the measure of how much buyers and sellers respond to changes…
PE of Demand
the measure of how much the quantity demanded responds to pri…
21 terms
saving, investment and financial system
financial system
financial markets
bond
stock
the group of institutions in the economy that help to match o…
financial institutions though which savers can directly provi…
a certificate of indebtedness
a claim to partial ownership in a firm
financial system
the group of institutions in the economy that help to match o…
financial markets
financial institutions though which savers can directly provi…
Presidential roles
Chief of State
Chief Executive
Chief of the Economcy
Chief Diplomat
he is the ceremonial head of the government of the United Sta…
The Constitution gives the President the executive power of t…
The President is powerless, but can recommend changes to Cong…
The President is the main architect of America's foreign poli…
Chief of State
he is the ceremonial head of the government of the United Sta…
Chief Executive
The Constitution gives the President the executive power of t…
18 terms
Production and Growth
productivity
physical capital
Human capital
natural resources
the quantity of goods and services produces from each unit of…
the stock of equipment and structures that are used to produc…
the knowledge and skills that workers acquire through educati…
the inputs not the production of goods and services that are…
productivity
the quantity of goods and services produces from each unit of…
physical capital
the stock of equipment and structures that are used to produc…
Economics: Chapter 5
supply curve
elasticity of supply
movement along a supply curve
shift of supply curve
a curve, or line, showing the quantities of a particular good…
a measure of the responsiveness of quantity supplied to a pri…
change in quantity supplied resulting from a change in the pr…
increase or decrease in supply resulting from a change in one…
supply curve
a curve, or line, showing the quantities of a particular good…
elasticity of supply
a measure of the responsiveness of quantity supplied to a pri…
34 terms
Economics
Any item that can be traded for goods…
Anything that has value that can be to…
Job done for money
When there is too much money and it be…
Money
Goods
Services
Inflation
Any item that can be traded for goods…
Money
Anything that has value that can be to…
Goods
1980
Ronald Regan
Conservative Values
Moral Majorities
Reagenomics
President from 1981- 1989 his election will signel a shift co…
Small gov chirstian morals less regulation, low tas, strong n…
Movement led by Rev Fahwell to return the U.S to its Chireas…
aka supply side economcis by lowering taxes for everyone peop…
Ronald Regan
President from 1981- 1989 his election will signel a shift co…
Conservative Values
Small gov chirstian morals less regulation, low tas, strong n…
15 terms
Economic System
1 - Traditional Economy... 2 - Market Eco…
Traditional Economy
Traditional Economy
Traditional Economy
The 3basic types of Economic Systems
"Found in rural, undeveloped countries" describes which type…
"Customs govern the economic systems" describes which type of…
"Farming, hunting and gathering" describes which type of econ…
1 - Traditional Economy... 2 - Market Eco…
The 3basic types of Economic Systems
Traditional Economy
"Found in rural, undeveloped countries" describes which type…
Economics Chapter 22
Production
Production Function
Production Function Equation
Short Run
Any activity that results in the conversion of resources into…
The relationship between maximum physical output and the quan…
Q=f(K,L) K is capital and L is labor.
A time period when at least one input cannot be changed. Usua…
Production
Any activity that results in the conversion of resources into…
Production Function
The relationship between maximum physical output and the quan…
28 terms
Economics Today Ch 21
Economic rent
Economic rent to labor
highest-valued use.
Legal organization of firms
_____ ______ is payment for the use of any... resource over and…
______ ______ to Labor... - Professional sports superstars... - Roc…
Economic rent allocates resources to their
Proprietorship... Partnership... Corporation
Economic rent
_____ ______ is payment for the use of any... resource over and…
Economic rent to labor
______ ______ to Labor... - Professional sports superstars... - Roc…
13 terms
Chapter 6 Objectives
Explain how supply and demand create a…
Define equilibrium
Compare market in disequilibrium with…
Define excess demand
Buyers will purchase the exact amount of a products firms are…
Equilibrium is the point of balance when demand the demand an…
A market is in disequilibrium when the quantity of a product…
when the quantity demanded is more than the quantity supplied
Explain how supply and demand create a…
Buyers will purchase the exact amount of a products firms are…
Define equilibrium
Equilibrium is the point of balance when demand the demand an…
Joint demand, composite demand, derived demand, substitute goods, joint supply, competing demand
occurs when complements are bought tog…
occurs when a good is demanded for two…
occurs when demand for one good occurs…
have a positive cross elasticity of de…
define joint demand
define composite demand
define derived demand
define substitute goods
occurs when complements are bought tog…
define joint demand
occurs when a good is demanded for two…
define composite demand
Chapter 1+2 quiz prep
7 Principles of Economics
7 Principles of Economics
7 Principles of Economics
7 Principles of Economics
people face tradeoffs
the cost of something is what you give up to get it.
rational people think at the margin
people respond to incentives
7 Principles of Economics
people face tradeoffs
7 Principles of Economics
the cost of something is what you give up to get it.
38 terms
Chapter 12 Economic Indicators and Measurements
national income (NI)
gross domestic product (GDP)
intermediate goods
durable goods
the total income earned in a nation from the production of go…
total dollar value of all final goods and services produced i…
goods used in the production of final goods
goods that last for a relatively long time, such as refrigera…
national income (NI)
the total income earned in a nation from the production of go…
gross domestic product (GDP)
total dollar value of all final goods and services produced i…
89 terms
Economics
Scarcity
Comparative Advantage
Opportunity Cost
Production Possibilities Curve
The limited quantities of resources to meet unlimited wants,…
The ability of an individual, firm, or country to produce a g…
Cost of the next best alternative use of money, time, or reso…
A graph that describes the maximum amount of one good that ca…
Scarcity
The limited quantities of resources to meet unlimited wants,…
Comparative Advantage
The ability of an individual, firm, or country to produce a g…
26 terms
Unit 1 (Healthcare delivery and economics)
capitation
Inpatient Care (Residential Care)
Client centered care
case management
refers to payment system used by HMOS and PCP's . Drs a payed…
overnight/longer stay at a healthcare facility. e.g. long ter…
-patient has a voice in their care, esp. in rehabilitation
Nurses advocate for patients, make resources available for th…
capitation
refers to payment system used by HMOS and PCP's . Drs a payed…
Inpatient Care (Residential Care)
overnight/longer stay at a healthcare facility. e.g. long ter…
12 terms
econ ch 15
classical economcis
demand-side economics
laffer curve
multiplier effect
free markets will regulate themselves
idea behind Keynesian economics
shows that higher taxes lead to lower tax revenues
every dollar change in fiscal policy creates a greater change…
classical economcis
free markets will regulate themselves
demand-side economics
idea behind Keynesian economics
60 terms
Industrialization, Labor Unions, Urbanization, Immigration
Industrialization
Capitalization
Factors of Production (land, labor, an…
Entrepreneurs
An economic change using machines and sources of power beside…
Type of economy where prices are determined by supply and dem…
Reasons for growth of industry in America. New lands vacated…
Investors seeking profit created new businesses
Industrialization
An economic change using machines and sources of power beside…
Capitalization
Type of economy where prices are determined by supply and dem…
French 3 Lesson 1 List
La salle d'exposition
Un camping-car
Une caravane
Une jeep
The show room
A RV
A trailer
A herp
La salle d'exposition
The show room
Un camping-car
A RV
HCM 402 Economics for Healthcare Managers Unit 3: Chapters 4, 5, & 6
Describing, Evaluating, and Managing R…
This lecture seeks to prepare you to d…
Why are low profits risky?
When outcomes are uncertain, decision…
* Risk is an integral part of business. ... * Almost all decisio…
Nothing was said about avoiding risk. ... Avoiding risk reduces…
1. With low profitability even minor fluctuations in cost or…
Describing risky outcomes... Evaluating risky outcomes... Managing…
Describing, Evaluating, and Managing R…
* Risk is an integral part of business. ... * Almost all decisio…
This lecture seeks to prepare you to d…
Nothing was said about avoiding risk. ... Avoiding risk reduces…
131 terms
Economics for Healthcare Managers
Cost
Marginal/incremental
Marginal or incremental cost
Rational decision making
the value of a resource in its next best use
involving a small change from the current situation
the cost of producing an additional unit of output
choosing the course of action that gives you the best outcome…
Cost
the value of a resource in its next best use
Marginal/incremental
involving a small change from the current situation
Money Medium of exchange Barter Standard of value Store of value durability, portability, divisibility, uniformity stability of value, scarcity, acceptability Commodity money Representative money Fiat money currency demand deposits near money transactio
Money
Medium of exchange
Barter
Standard of value
Assets that people are generally willing to accept in exchang…
Anything that is used to determine value during the exchange…
(n.) an exchange in trade; (v.) to exchange goods
a way to measure the worth of what is bought and sold
Money
Assets that people are generally willing to accept in exchang…
Medium of exchange
Anything that is used to determine value during the exchange…
Geography Key Terms (Tourism)
Mass tourism
Specialist holidays
Event tourism
MEDC
When large numbers of tourists visit the same place
Holidays based on a particular area, interest or activity
Based around specific events i.e. sporting, cultural or histo…
More economically developed country
Mass tourism
When large numbers of tourists visit the same place
Specialist holidays
Holidays based on a particular area, interest or activity
41 terms
Period 9: 1980 to the Present
Proposition 13
Moral Majority
televangelists
Regents of University of CA v. Bakke
this proposition proposed to decrease property taxes in CA, a…
a prominent American political organization associated with t…
Christian ministers who devote a large portion of their minis…
a landmark decision by the Supreme Court of the United States…
Proposition 13
this proposition proposed to decrease property taxes in CA, a…
Moral Majority
a prominent American political organization associated with t…
18 terms
APUSH 3/17/15
General Dwight D. Eisenhower
General Douglas MacArthur
Admiral Chester Nimitz
General George S. Patton
one of the few five star generals of this war. his nickname w…
command over north from aussie back to the phillipians
to to invade japanses bases west of HI
invaded sicily with brits
General Dwight D. Eisenhower
one of the few five star generals of this war. his nickname w…
General Douglas MacArthur
command over north from aussie back to the phillipians
15 terms
chapter 10.1 and 12 vocab
Enclosure Movement
Steam Engine
industrial capitalism
indirect rule
fenced off common lands
crucial to britains industrial revolution increased need for…
economci system based off industrial production
colonial government where local ruler can maintain status
Enclosure Movement
fenced off common lands
Steam Engine
crucial to britains industrial revolution increased need for…
Healthcare Management
Resistance to change is an unnatural s…
The Health Insurance Portability and A…
Involvement, often the strongest force…
Conformance with the requirements of H…
False
True
True
True
Resistance to change is an unnatural s…
False
The Health Insurance Portability and A…
True
Econ chapter 3
Free enterprise
Private property rights
Biofuels
Consumer sovereignty
Economci system in which privately owned businesses have the…
Allow people to own and control possessions as they wish
Energy derived from renewable sources
Role of consumere as ruler of the market in determining the t…
Free enterprise
Economci system in which privately owned businesses have the…
Private property rights
Allow people to own and control possessions as they wish
21 terms
SS Vocab For Chapter 7
Constitution
Bicameral
Republic
Petition
a plan of government
a two house legislature
a government in which citizens rule through elected represent…
to apply for something
Constitution
a plan of government
Bicameral
a two house legislature
33 terms
Introduction to Economics 2015-16
Need
Want
Economics
Goods
Something like air, food, or shelter that is necessary for su…
An item that we desire but that is not essential to survival
The study of how people seek to satisfy their needs and wants…
Physical objects such as clothes or shoes
Need
Something like air, food, or shelter that is necessary for su…
Want
An item that we desire but that is not essential to survival
10 terms
Ch5: Policy and the Environment
economy
traditional neoclassical economics
cost-benefit analysis
environmental consequences of neoclass…
social system that converts resources into goods and services
focuses only on production and consumption among businesses a…
determines if cost of action or decision outweighs benefits
replacing resources, external costs, discounting, growth
economy
social system that converts resources into goods and services
traditional neoclassical economics
focuses only on production and consumption among businesses a…
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