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Final Test
ECON
10
Economics
Undergraduate 4
03/31/2009

Additional Economics Flashcards

 


 

Cards

Term
Command Economy
Definition
Soviet Communism is an example of what economy?
Term
The American Rev War
Definition
When did Adam Smith publish "An inquiry into the nature and causes of the wealth of nations"
Term
The law of Demand
Definition
demand curves must shift in order to have a change in price
Term
John Maynard Keynes
Definition
Author of "The Economic Cosequences of the Peace"
Term
Economic Theory
Definition
Firms try to maximize Utility, Profits, and the income of top executives
Term
Comparitive advantage
Definition
The theory behind job out sourcing
Term
The Price System
Definition
In a free market, the allocation of goods and services
Term
MC=MR
Definition
Maximizing profits by produce the quality
Term
Securitization
Definition
Mortgage loans are chopped up and sold in the market as bond-like instruments.
Term
Hernando de Soto
Definition
Author of the Mystery of Capital
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