Term
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Definition
| Labor, Capital, Entrepreneurs, Natural Resources |
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Term
| Types of Economic Systems |
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Definition
| Planned Economies, Market Economies, Mixed Economies |
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Term
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Definition
| Gov makes decisions, tells you what to make and buy |
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Term
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Definition
| Gov is hands off, consumers and producers make decisions based on supply and demand |
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Term
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Definition
| Market + Gov determines producing and buying decisions |
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Term
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Definition
| Private property rights, freedom of choice, profits and competition |
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Term
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Definition
| Pure, Monopolistic, Oligopoly, Monopoly |
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Term
| U.S Economic System Characteristics |
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Definition
| Markets, Supply and Demand, Private Enterprise, Varying Degrees of Competition |
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Term
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Definition
| Stability, Full Employment, Growth |
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Term
| Measures of Economic Performance |
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Definition
| GNP, GDP, Productivity, Balance of Trade, National Debt |
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Term
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Definition
| Gross National Product (not used anymore) |
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Term
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Definition
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Term
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Definition
| Measures goods crossing the border, exports compared to imports |
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Term
| Tools for Managing the US Economy |
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Definition
| Fiscal Policy, Monetary Policy |
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Term
|
Definition
| Controls gov spending, taxes |
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Term
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Definition
| Controls interest rates, money supply |
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