Edconfidence.weebly.com



Economics Note Card ProjectDue Date: EconomicsAllocateScarcityList 4 Factors of Production (CELL)Capital (Define and Example)Entrepreneurship (Define and Example)Land (Define and Example)Labor (Define and Example)Natural resourcesHuman resourcesHuman capitalPhysical capitalOpportunity cost (Define and give example)Positive incentiveNegative incentiveEconomic decision-making processMarginal benefitMarginal costProductivityInputOutputWhat is an investment in human capital?What is an investment in physical capital?Draw Production Possibilities Curve (Label: Trade-Offs, inefficient use of resources, efficient use of resources, unattainable use of resourcesDraw Production Possibilities (Label and explain opportunity cost)Draw Production Possibilities Curve (Label: Economic Growth)Economic growthEconomic efficiencyRational decision making modelSpecializationDivision of laborVoluntary exchangeWho benefits from Non-Fraudulent Voluntary Exchange?What are the three economic questions?Market economyCommand economyMixed economyTraditional economyList 4 Roles of Government in Public goods and services (Define and give example)Redistribution of income (Define and give example)Private property rights (Define and give example)Market failures (Define and give example)Government regulationDeregulationList 9 ways to Allocate ResourcesSavingsInvestmentInterestInterest earnedInterest chargedHow do banks make money?List 5 Types of Financial InstitutionsBanksCredit unionsPayday lendersTitle pawn lendersBondsSavings accountsCertificate of depositRetirement account StocksMutual fundsExplain risk vs rewardInflationWho is hurt by unanticipated inflation?Who benefits by unanticipated inflation?Credit worthinessList 3 Factors that affect credit worthinessAnnual percentage rateSimple interestCompound interestFixed interestVariable interestInsurance policyPremiumDeductibleAutomobile insuranceLife insuranceProperty insuranceStandard of livingProgressive tax (Define and example)Regressive tax(Define and example)Proportional tax(Define and example)Who is hurt by a Regressive Tax?MicroeconomicsMacroeconomicsEconomic interdependenceDraw and label the Circular Flow ChartLaw of supplyLaw of demandList 6 Determinants of (Shifters of Supply)supply and draw supply Curve ShiftingList Determinants of (Shifters of Demand) demand and draw demand curve shiftingEquilibrium price or market clearing priceDraw an Equilibrium price or market clearing price graphPrice Floor (define, example and graph the surplus)Price Ceiling (define, example and graph the shortage)Sole proprietorshipPartnershipCorporation (Define and give example)Monopoly(Define and give example)OligopolyMonopolistic competition(Define and give example)Pure (perfect) competition(Define and give example)Gross Domestic ProductNet ExportsGDP formulaReal GDPInflationConsumer Price indexAggregate supply and demandStructural Unemployment(Define and give example)Frictional Unemployment(Define and give example)Cyclical Unemployment(Define and give example)Seasonal Unemployment(Define and give example)Draw the business cycle (label expansion, peak, contraction, trough and expansion)Medium of exchangeStore of valueUnit of account/standard of valueFederal reserve systemMonetary policyOpen market operationsReserve requirementsBoard of GovernorsFederal Open Market CommitteeFiscal policyHow can government boost GDP?DeficitNational debtSurplusAbsolute advantageComparative advantageBalance of tradeTrade surplusTrade deficitTrading blocsNorth American Free Trade Agreement (NAFTA)European Union (EU)Association of Southeast Asian Nations (ASEAN)List two arguments in favor of free tradeList two arguments against free trade (TRADE RESTICTIONS)List 5 barriers to tradeTariffEmbargoQuotaStandardsSubsidyExchange RatesAppreciationDepreciation ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download