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Study sets matching "economics prentice hall"

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Study sets matching "economics prentice hall"

30 terms
Prentice Hall Economics Chapter 2
Key Economic Questions
Economic system
Profit
Safety net
-What goods and services should be produced?... -How should thes…
the method used by a society to produce and distribute goods…
the amount of money a business receives in excess of its expe…
government programs that protect people experiencing unfavora…
Key Economic Questions
-What goods and services should be produced?... -How should thes…
Economic system
the method used by a society to produce and distribute goods…
22 terms
Prentice Hall Economics Chapter 1
need
want
goods
services
something essential for survival
something that people desire but that is not necessary for su…
the physical objects that someone produces
the actions or activities that one person performs for another
need
something essential for survival
want
something that people desire but that is not necessary for su…
18 terms
Prentice Hall Economics Chapter 4
demand
law of demand
substitution effect
income effect
The desire to own something and the ability to pay for it
consumers buy more of a good when its price decreases and les…
when consumers react to an increase in a good's price by cons…
the change in consumption resulting from a change in real inc…
demand
The desire to own something and the ability to pay for it
law of demand
consumers buy more of a good when its price decreases and les…
20 terms
Prentice Hall Economics Chapter 5
supply
law of supply
quantity supplied
supply schedule
the amount of goods available
tendency of suppliers of offer more of a good at a higher price
the amount a supplier is willing and able to supply at a cert…
a chart that lists how much of a good a supplier will offer a…
supply
the amount of goods available
law of supply
tendency of suppliers of offer more of a good at a higher price
26 terms
Prentice Hall Economics Chapter 3
profit motive
open opportunity
legal equality
private property rights
the force that encourages people and organizations to improve…
the concept that everyone can compete in the marketplace
the concept of giving everyone the same legal rights
the concept that people have the right and privilege to contr…
profit motive
the force that encourages people and organizations to improve…
open opportunity
the concept that everyone can compete in the marketplace
27 terms
Prentice Hall Economics Chapter 7
Perfect Competition
Commodity
Barrier to Entry
Imperfect Competition
A market structure in which a large number of firms all produ…
A product that is the same no matter who produces it. Ex. Milk
Any factor that makes it difficult for a new firm to enter a…
A market structure that does not meet the conditions of perfe…
Perfect Competition
A market structure in which a large number of firms all produ…
Commodity
A product that is the same no matter who produces it. Ex. Milk
17 terms
Prentice Hall Economic Chapter 4
demand
law of demand
substitution effect
income effect
The desire to own something and the ability to pay for it
consumers buy more of a good when its price decreases and les…
when consumers react to an increase in a good's price by cons…
the change in consumption resulting from a change in real inc…
demand
The desire to own something and the ability to pay for it
law of demand
consumers buy more of a good when its price decreases and les…
17 terms
Prentice Hall Economic Chapter 4
demand
law of demand
substitution effect
income effect
The desire to own something and the ability to pay for it
consumers buy more of a good when its price decreases and les…
when consumers react to an increase in a good's price by cons…
the change in consumption resulting from a change in real inc…
demand
The desire to own something and the ability to pay for it
law of demand
consumers buy more of a good when its price decreases and les…
14 terms
Prentice Hall Economics Chapter 6
equilibrium
disequilibrium
shortage
surplus
the point at which the demand for a product or service is equ…
any price or quantity not at equilibrium; when quantity suppl…
when quantity demanded is more than quantity supplied
when quantity supplied is more than quantity demanded
equilibrium
the point at which the demand for a product or service is equ…
disequilibrium
any price or quantity not at equilibrium; when quantity suppl…
22 terms
Prentice Hall Economics Chapter 5
supply
law of supply
quantity supplied
supply schedule
the amount of goods available
tendency of suppliers of offer more of a good at a higher price
the amount a supplier is willing and able to supply at a cert…
a chart that lists how much of a good a supplier will offer a…
supply
the amount of goods available
law of supply
tendency of suppliers of offer more of a good at a higher price
45 terms
prentice hall economics chapter 3
Basic principles of free enterprise:
profit motive
open opportunity
legal equality
profit motive, open opportunity, legal equality, private prop…
encourages people and organizations to improve their material…
everyone can compete in the market place
giving everyone the same legal rights
Basic principles of free enterprise:
profit motive, open opportunity, legal equality, private prop…
profit motive
encourages people and organizations to improve their material…
14 terms
Prentice Hall Economics Chapter 6
Shortage
Equilibrium
Rationing
Search Cost
A situation where demand for a product or service exceeds the…
The state in which market supply and demand balance each othe…
The act of placing restrictions on the amount of new investme…
The time, energy and money expended by a consumer who is rese…
Shortage
A situation where demand for a product or service exceeds the…
Equilibrium
The state in which market supply and demand balance each othe…
32 terms
Prentice Hall Economics Chapters 2
Key Economic Questions
Economic system
Factor payments
Economic goals
-What goods and services should be produced?... -How should thes…
the method used by a society to produce and distribute goods…
the income people receive for supplying factors of production…
efficiency, freedom, security and predictability, equity (fai…
Key Economic Questions
-What goods and services should be produced?... -How should thes…
Economic system
the method used by a society to produce and distribute goods…
18 terms
Prentice Hall Economics Chapter 6
equilibrium
disequilibrium
shortage
surplus
the point at which the demand for a product or service is equ…
any price or quantity not at equilibrium; when quantity suppl…
when quantity demanded is more than quantity supplied
when quantity supplied is more than quantity demanded
equilibrium
the point at which the demand for a product or service is equ…
disequilibrium
any price or quantity not at equilibrium; when quantity suppl…
14 terms
Prentice Hall Economics Chapter 6
equilibrium
disequilibrium
shortage
surplus
the point at which the demand for a product or service is equ…
any price or quantity not at equilibrium; when quantity suppl…
when quantity demanded is more than quantity supplied
when quantity supplied is more than quantity demanded
equilibrium
the point at which the demand for a product or service is equ…
disequilibrium
any price or quantity not at equilibrium; when quantity suppl…
29 terms
Economics Chapter 8 Prentice Hall
sole proprietorship
business organization
business license
zoning law
a business owned and managed by a single individual
an establishment formed to carry on commercial enterprise
authorization to start a business issued by the local governm…
law in a city or town that designates separate areas for resi…
sole proprietorship
a business owned and managed by a single individual
business organization
an establishment formed to carry on commercial enterprise
17 terms
Prentice Hall Economic Chapter 4
demand
law of demand
substitution effect
income effect
The desire to own something and the ability to pay for it
consumers buy more of a good when its price decreases and les…
when consumers react to an increase in a good's price by cons…
the change in consumption resulting from a change in real inc…
demand
The desire to own something and the ability to pay for it
law of demand
consumers buy more of a good when its price decreases and les…
32 terms
Prentice Hall Chapter 11 Economics
investment
financial system
financial asset
financial intermediary
the act of redirecting resources from being consumed today so…
the system that allows the transfer of money between savers a…
claim on the property or income of a borrower
institution that helps channel funds from savers to borrowers
investment
the act of redirecting resources from being consumed today so…
financial system
the system that allows the transfer of money between savers a…
20 terms
Prentice Hall Economics Chapter 5
supply
law of supply
quantity supplied
supply schedule
the amount of goods available
tendency of suppliers of offer more of a good at a higher price
the amount a supplier is willing and able to supply at a cert…
a chart that lists how much of a good a supplier will offer a…
supply
the amount of goods available
law of supply
tendency of suppliers of offer more of a good at a higher price
20 terms
Prentice Hall Economics Chapter 5
supply
law of supply
quantity supplied
supply schedule
the amount of goods available
tendency of suppliers of offer more of a good at a higher price
the amount a supplier is willing and able to supply at a cert…
a chart that lists how much of a good a supplier will offer a…
supply
the amount of goods available
law of supply
tendency of suppliers of offer more of a good at a higher price
17 terms
Prentice Hall Economic Chapter 4
demand
law of demand
substitution effect
income effect
The desire to own something and the ability to pay for it
consumers buy more of a good when its price decreases and les…
when consumers react to an increase in a good's price by cons…
the change in consumption resulting from a change in real inc…
demand
The desire to own something and the ability to pay for it
law of demand
consumers buy more of a good when its price decreases and les…
33 terms
Economics Prentice Hall Chapter 2
Economic
Factor payments
Patriotism
Safety net
The method used by a society to produce and distribute goods…
The income people receive for supplying factors of production…
The love of ones country
Set of Government programs that protect people experiencing u…
Economic
The method used by a society to produce and distribute goods…
Factor payments
The income people receive for supplying factors of production…
17 terms
Prentice Hall Economic Chapter 4
demand
law of demand
substitution effect
income effect
The desire to own something and the ability to pay for it
consumers buy more of a good when its price decreases and les…
when consumers react to an increase in a good's price by cons…
the change in consumption resulting from a change in real inc…
demand
The desire to own something and the ability to pay for it
law of demand
consumers buy more of a good when its price decreases and les…
37 terms
Prentice Hall Economics: Chapter 2: Economic Systems
Economic system
Factor payment
Profit
Safety net
The structure of methods/principles a society uses to produce…
Income received by people in return for supplying factors of…
The amount of money a business receives in excess or its expe…
Set of government programs that protect people who face unfav…
Economic system
The structure of methods/principles a society uses to produce…
Factor payment
Income received by people in return for supplying factors of…
22 terms
Prentice Hall Economics Ch5
Supply
Law of Supply
Quantity Supplied
Supply Schedule
the amount of goods available
producers offer more of a good as its price increases and les…
the amount that a supplier is willing and able to supply at a…
a chart that lists how much of a good a supplier will offer a…
Supply
the amount of goods available
Law of Supply
producers offer more of a good as its price increases and les…
17 terms
Prentice Hall Economic Chapter 4
demand
law of demand
substitution effect
income effect
The desire to own something and the ability to pay for it
consumers buy more of a good when its price decreases and les…
when consumers react to an increase in a good's price by cons…
the change in consumption resulting from a change in real inc…
demand
The desire to own something and the ability to pay for it
law of demand
consumers buy more of a good when its price decreases and les…
32 terms
Prentice Hall Economics Principles in Action
Money
Medium of Exchange
Barter
Unit of Account
Anything that serves as a medium of exchange, a unit of accou…
Anything that is used to determine value during the exchange…
The direct exchange on one set of goods or services for another
A means for comparing the values of goods and services
Money
Anything that serves as a medium of exchange, a unit of accou…
Medium of Exchange
Anything that is used to determine value during the exchange…
32 terms
Prentice Hall Economics Chapter 14
tax
revenue
progressive tax
proportional tax
a required payment to a local, state, or national government
the income received by a government from taxes and other nont…
a tax for which the percentage of income paid in taxes increa…
a tax for which the percentage of income paid in taxes remain…
tax
a required payment to a local, state, or national government
revenue
the income received by a government from taxes and other nont…
27 terms
Pearson Prentice Hall Economics Chapter 1
need
want
goods
services
something essential for survival
something that people desire but that is not necessary for su…
the physical objects that someone produces
the actions or activities that one person performs for another
need
something essential for survival
want
something that people desire but that is not necessary for su…
Prentice Hall economics Chapter 13
frictional unemployment
seasonal unemployment
structural unemployment
cyclical unemployment
unemployment that occurs when people take time to find a job
unemployment that occurs as a result of harvest schedules or…
unemployment that occurs when workers' skills do not match th…
unemployment that rises during economic downturns and falls w…
frictional unemployment
unemployment that occurs when people take time to find a job
seasonal unemployment
unemployment that occurs as a result of harvest schedules or…
24 terms
Prentice Hall Economics Chapter 9
Labor Force
Outsourcing
Off Shoring
Learning Effect
All non-military people who are employed or un-employed
the practice of contracting with another company to do a spec…
the movement of some of a company's operations to another cou…
the theory that education increases efficiency of production…
Labor Force
All non-military people who are employed or un-employed
Outsourcing
the practice of contracting with another company to do a spec…
22 terms
Prentice Hall Economics Chapter 16
monetary policy
reserves
reserve requirements
check clearing
the actions that the Federal Reserve System takes to influenc…
deposits that a bank keeps readily available as opposed to le…
the minimum amount of reserves that banks are required to kee…
the process by which banks record whose account receives mone…
monetary policy
the actions that the Federal Reserve System takes to influenc…
reserves
deposits that a bank keeps readily available as opposed to le…
Prentice Hall Economics Vocab CEC
Aggregate demand
Appreciation
Articles of partnership
Assets
the amount of goods and services in the economy that will be…
an increase in the value of a currency
a partnership agreement
money and other valuables belonging to an individual or busin…
Aggregate demand
the amount of goods and services in the economy that will be…
Appreciation
an increase in the value of a currency
32 terms
Prentice Hall Economics Chapter 14
tax
revenue
progressive tax
proportional tax
A required payment to a local, state, or national government.
The income received by the government from taxes and other no…
The more you make the more you pay.
everyone pays the same rate of income. (like a flat tax where…
tax
A required payment to a local, state, or national government.
revenue
The income received by the government from taxes and other no…
14 terms
Prentice Hall Economics Chapter 6
equilibrium
disequilibrium
shortage
surplus
the point at which the demand for a product or service is equ…
any price or quantity not at equilibrium; when quantity suppl…
when quantity demanded is more than quantity supplied
when quantity supplied is more than quantity demanded
equilibrium
the point at which the demand for a product or service is equ…
disequilibrium
any price or quantity not at equilibrium; when quantity suppl…
25 terms
Prentice Hall Economics Chapter 1
need
want
goods
services
something essential for survival
something that people desire but that is not necessary for su…
the physical objects that someone produces
the actions or activities that one person performs for another
need
something essential for survival
want
something that people desire but that is not necessary for su…
45 terms
prentice hall economics chapter 3
Basic principles of free enterprise:
profit motive
open opportunity
legal equality
profit motive, open opportunity, legal equality, private prop…
encourages people and organizations to improve their material…
everyone can compete in the market place
giving everyone the same legal rights
Basic principles of free enterprise:
profit motive, open opportunity, legal equality, private prop…
profit motive
encourages people and organizations to improve their material…
31 terms
Prentice Hall economics Chapter 13
frictional unemployment
seasonal unemployment
structural unemployment
cyclical unemployment
unemployment that occurs when people take time to find a job
unemployment that occurs as a result of harvest schedules or…
unemployment that occurs when workers' skills do not match th…
unemployment that rises during economic downturns and falls w…
frictional unemployment
unemployment that occurs when people take time to find a job
seasonal unemployment
unemployment that occurs as a result of harvest schedules or…
32 terms
Prentice Hall Economics: Chapter 10
Money
Medium of Exchange
Barter
Unit of Account
Anything that serves as a medium of exchange, a unit of accou…
Anything that is used to determine value during the exchange…
The direct exchange of one set of goods or services for anoth…
A means for comparing the values of goods and services.
Money
Anything that serves as a medium of exchange, a unit of accou…
Medium of Exchange
Anything that is used to determine value during the exchange…
27 terms
Economics Prentice Hall Chapter 7
Perfect Competition
Commodity
barrier to entry
start-up costs
a market structure in which a large number of firms all produ…
a product, such as petroleum or milk, that is considered the…
any factor that makes it difficult for a new firm to enter a…
the expenses a new business must pay before it can begin to p…
Perfect Competition
a market structure in which a large number of firms all produ…
Commodity
a product, such as petroleum or milk, that is considered the…
25 terms
Prentice Hall Economics Chapter 5
supply
law of supply
quantity supplied
supply schedule
the amount of goods producers are willing to produce at a giv…
tendency of suppliers of offer more of a good at a higher price
amount supplier will supply at a certain price
chart lists how much goods ONE supplier offers at different p…
supply
the amount of goods producers are willing to produce at a giv…
law of supply
tendency of suppliers of offer more of a good at a higher price
21 terms
Economics Prentice Hall Chapter 5
Supply
Law of supply
Quantity supplied
Supply schedule
The amount of goods available
Tendency of suppliers to offer more of a good at a higher price
The amount a supplier is willing and able to supply at a cert…
A chart that lists how much of a good a supplier will offer a…
Supply
The amount of goods available
Law of supply
Tendency of suppliers to offer more of a good at a higher price
32 terms
Prentice Hall Economics: Chapter 10
Money
Medium of Exchange
Barter
Unit of Account
Anything that serves as a medium of exchange, a unit of accou…
Anything that is used to determine value during the exchange…
The direct exchange of one set of goods or services for anoth…
A means for comparing the values of goods and services.
Money
Anything that serves as a medium of exchange, a unit of accou…
Medium of Exchange
Anything that is used to determine value during the exchange…
24 terms
Economics Prentice Hall Chapter 1
Need
Want
Economics
Goods
Something necessary for survival
Item that we desire but not essential to survival
The study of how people seek to satisfy their needs and wants…
Physical objects such as shoes and shirts
Need
Something necessary for survival
Want
Item that we desire but not essential to survival
22 terms
Chapter 16 Prentice Hall Economics
monetary policy
reserves
reserve requirements
check clearing
the actions that the Federal Reserve System takes to influenc…
deposits that a bank keeps readily available as opposed to le…
the minimum amount of reserves that banks are required to kee…
the process by which banks record whose account receives mone…
monetary policy
the actions that the Federal Reserve System takes to influenc…
reserves
deposits that a bank keeps readily available as opposed to le…
Prentice Hall Economics Chapter 5
Which of the following is a fixed cost…
Which of the following receives govern…
What is the effects of import restrict…
Which of the following is an example o…
Rent.
Small farmers in France.
They cause prices to rise.
Apples
Which of the following is a fixed cost…
Rent.
Which of the following receives govern…
Small farmers in France.
24 terms
Prentice Hall Economics Personal Finance
Four C's
Capacity
Capital
Character
Capacity, Capital, Character, and Collateral
Your ability to repay the debt
Your regular income plus the money in your savings and checki…
Your willingness to repay your debts
Four C's
Capacity, Capital, Character, and Collateral
Capacity
Your ability to repay the debt
22 terms
Pearson Prentice Hall Economics Chapter 1
need
want
goods
services
something essential for survival
something that people desire but that is not necessary for su…
the physical objects that someone produces
the actions or activities that one person performs for another
need
something essential for survival
want
something that people desire but that is not necessary for su…
Chapter 1-2 economics Prentice hall
need
want
goods
services
something essential for survival
something desired but not necessary for survival
physical objects that someone produces
actions or activities that one person performes for another
need
something essential for survival
want
something desired but not necessary for survival
Prentice Hall Economics Chapter 6
The price ceiling that was used to con…
What is the name of the smallest amoun…
Which of the following is an example o…
Why did Communist governments use a co…
Rent control
Minimum wage
Computer printers
In an attempt to create a society in which everyone was equal.
The price ceiling that was used to con…
Rent control
What is the name of the smallest amoun…
Minimum wage
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