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Lydia Palli
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Decks in this class (74)
Lesson 1-2 pg. 1 - 9
Define economics,
How does a good understanding of ...,
Describe the ancient greeks and r...
24
cards
Lesson 3 pg. 9 - 12
Is there an unlimited supply of g...,
Define prodigality,
Define a need
10
cards
Lesson 4 pg. 12 - 15
Define value,
What does the value of a good var...,
Describe the carl menger s soluti...
5
cards
Lesson 5 pg. 17 - 20
Define the laws of economics,
List the economic laws,
Describe mercantilism
9
cards
Lesson 6 pg. 21 - 24
What did adam smith believe was t...,
Adam smith s formula for economic...
2
cards
Lesson 7 pg. 24-26
What is the practical purpose or ...,
Define prosperity,
Define wealth
6
cards
Lesson 8 pg.28-29
What is the production of goods t...,
How do economists usually divide ...,
What do economists also list as a...
9
cards
Application 3A pg.3-4
How is a nation s pursuit of econ...,
What are the three basic types of...,
How is economic growth achieved
11
cards
Lesson 9 pg. 30 - 31
Describe natural resources as a f...,
List and describe the the differe...
2
cards
Application 3B pg.4-5
What are the two types of resourc...
1
cards
Lesson 10 pg. 31 - 33
Define labor,
Is the labor of free men and wome...
2
cards
Application 3C pg. 5 - 6
List the numerous factors that ca...,
Describe how salaries and wages c...,
Describe how salaries and wages c...
6
cards
Lesson 11 pg. 33 - 37
Define capital,
Define and describe subsistence e...,
Define and describe private capit...
5
cards
Lesson 12 pg. 38 - 41
Define entrenpreneurship,
Define entrepreneur,
Give the important entrepreneur c...
3
cards
Lesson 13 pg. 42 - 47
What three basic components of ca...,
Describe intellectual property,
What two entities make the majori...
5
cards
Lesson 16 pg. 49 -52
Define demand in the context of c...,
In demand s definition the amount...,
Define supply in the context of c...
5
cards
Lesson 17 pg. 53-54
Describe diminishing marginal uti...,
Define marginal utility,
Define total utility
3
cards
Application 4A pg. 7 - 8
0
cards
Lesson 18 pg. 55 - 58
Describe and define law of demand,
How does one know if demand for a...,
Describe the income effect
14
cards
Lesson 19 pg. 59 - 62
Describe the law of supply,
Define the supply schedule,
Define supply curve
12
cards
Lesson 20 pg. 62 - 64
Define equilibrium,
Describe shortage,
Describe surplus
3
cards
Lesson 21 pg. 64 - 65
As supply and demand of a good sh...,
Describe how demand is elastic,
What is the major reason why dema...
4
cards
Lesson 22 pg. 66 - 68
What is the result of price fixin...,
Define price ceiling,
Describe the result of price ceiling
5
cards
Lesson 23 pg. 68 - 70
Describe how command economies de...,
Describe how free market economie...,
Describe how mixed economies dete...
11
cards
Lesson 24 pg. 72 - 74
In a free society who makes the e...,
How do individuals determine what...,
Define nondurable goods
5
cards
Lesson 25 pg. 76 - 77
Describe how producers and consum...,
Describe how producers and consum...,
Define black markets
7
cards
Lesson 26 pg. 78 - 81
Define and describe the profit mo...,
What is one of the major differen...,
What does the word profit mean in...
7
cards
Application 5C pg. 12 - 14
Define and describe a production ...,
Describe the points inside the pr...,
Describe the points outside the p...
8
cards
Lesson 31 pg. 88 - 90
What is the main reason why count...,
How does competition help those w...,
Describe hesoid s thoughts on com...
3
cards
Lesson 32 pg. 90 - 92
Define industries,
What are the four main types of m...,
Describe the perfect competition
4
cards
Lesson 33 pg. 92 - 94
Define monopoly,
Describe monopoly,
Describe legal monopoly
4
cards
Application 6A - 6B pg. 17 - 19
Define pricing strategies,
Define non pricing strategies,
Describe how non pricing strategi...
8
cards
Lesson 34 pg. 94 - 96
Describe monopolistic competition
1
cards
Lesson 35 pg. 97 - 99
Define oligopoly,
Describe oligopoly
2
cards
Lesson 36 pg. 99 - 102
Describe and define a collusion,
What prevents more of monopolies ...,
Explain how the free market preve...
11
cards
Application 6D pg. 20 - 21
Describe the federal trade commis...,
Define price fixing,
Describe the punishment of price ...
7
cards
Lesson 37 pg. 104 - 108
Define efficiency,
Define input,
Define output
11
cards
Lesson 38 pg. 109 - 114
Describe mass production,
When specialization is carried be...
2
cards
Application 7 pg. 22 -24
Define fixed cost,
Describe fixed costs,
Define variable cost
13
cards
Lesson 39 pg. 115 - 117
Define absolute advantage,
Define comparative advantage
2
cards
Lesson 40 pg. 117 - 121
Define geographic specialization,
When does geographic specializati...,
Define protectionism
7
cards
Lesson 45 pg. 128 - 130
What are interests or dividends,
Define debtor,
Define creditor
3
cards
Application 8B pg. 26
Describe and define printing exce...,
Define and describe scarcity in s...,
Describe and define increase in c...
5
cards
Lesson 46 pg. 131 - 135
Define transaction account,
Define check,
Describe checking account
11
cards
Application 8C - 8G pg. 26 - 31
Describe an extended warranty,
Define collateral,
Define foreclosure
7
cards
Lesson 48 pg. 136 - 138
Define stocks,
Define corporation,
Define shares
12
cards
Application 8H - 8I pg. 31 -35
What is the financial foundation ...,
List the three examples of govern...,
Describe the traditional ira
9
cards
Lesson 49 Applications 8J - 8N pg. 35 - 41
0
cards
Lesson 50 pg. 139 - 140
What was the social security act,
What is the social security admin...
2
cards
Application 8O pg. 41
Define workers compensation,
What is the social security disab...,
What is unemployment insurance
3
cards
Lesson 51 pg. 142 - 144
Give the economists term for money,
List the three principal purposes...,
What does it mean by money being ...
7
cards
Lesson 52 pg. 145 - 151
Define specie,
What did the rulers during the ro...,
Explain gresham s law
10
cards
Lesson 53 pg. 151 - 153
List the three main categories th...,
Describe m1,
Describe m2
4
cards
Application 9A-9B pg. 42 - 44
Define debit card,
Define credit card
2
cards
Lesson 54 pg. 154 - 158
Describe the united states depart...,
Describe the federal reserve system,
List the three main components of...
4
cards
Application 9C - 9E pg. 45 - 47
Define banks,
Describe credit unions,
Describe finance companies
6
cards
Application 9F - 9G pg. 47 - 49
Define collateral,
Define secured loans,
Describe the unsecured loans
7
cards
Application 9H - 9J pg. 49 - 53
Describe debt management plan,
Describe chapter 7 bankruptcy,
Describe chapter 13 bankruptcy
7
cards
Application 10A pg. 54
Describe what a ponzi scheme is
1
cards
Lesson 61 pg. 166 - 170
Define socialism
1
cards
Application 10B - D pg. 55 - 61
Define direct taxes,
Define indirect tax,
Define progressive tax system
13
cards
Lesson 63 pg. 171 - 175
Who was john maynard keynes,
What is keynesianism
2
cards
Lesson 66 pg. 183 - 186
What is a business cycle,
List the four main components of ...,
Describe the expansion of a busin...
9
cards
Application 11C pg. 65
Give the two definitions
1
cards
Lesson 67 pg. 187 - 189
What are the two types of inflation,
Describe demand pull inflation,
Describe cost push inflation
7
cards
Application 11D pg. 66 - 67
When does inflation occur,
What does consumer price index cp...
2
cards
Lesson 70 pg. 193 - 195
List ways that the government can...,
Define nationalism,
Define communism
6
cards
Lesson 72 pg. 202 - 204
Define socialism,
Between the pure command economy ...
2
cards
Lesson 75 pg. 206 - 209
Define globalism,
What is the united nations un,
What is the general assembly
13
cards
Application 13A pg. 70 - 71
Describe the government s role in...,
Describe the financial institutio...,
Describe the international market...
4
cards
Lesson 76 pg. 210 - 213
Define national sovereignty,
What is a multilateral trade agre...,
What are bilateral trade agreements
3
cards
Lesson 77 pg. 213 - 215
What do globalists say about indu...,
What is the bretton woods conference,
Why are global humanitarian aid o...
3
cards
Lesson 78 pg. 215 - 218
0
cards
Application 13B pg. 71
0
cards
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