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Define The Following Key Components Of Economic System Flashcards
Cards: 13| Attempts: 33| Last updated: Mar 31, 2021
  A Particular Set Of Institutional Arrangement...
  Economic System
  An Economic System In Which Most Property Res...
  Command System
  An Economic System In Which Property Resource...
  Market System
  The Right Of Persons And Firms To Obtain, Own...
  Private Property
Chapter 7 Economics
Cards: 13| Attempts: 8| Last updated: Sep 22, 2015
  Utility: 
  The Want-satisfying Power Of A Good/service
  Utility Analysis: 
  The Analysis Of Consumer Decision Making Base...
  What Did Bentham Want ?
  He Said That Society Should Seek The Greatest...
  Util
  A Way To Measure Satisfaction (made By Bentha...
Economics Chapter 15
Cards: 13| Attempts: 4| Last updated: Sep 22, 2015
  What Does An Increase In Aggregate Demand Cau...
  Demand-pull Inflation
  What Does A Decrease In Aggregate Demand Caus...
  A Recession And Cyclical Unemployment
  Consists Of Deliberate Changes In Government ...
  Fiscal Policy
  An Increase In Government Spending, A Decreas...
  Expansionary Fiscal Policy

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Economics Chapter 18 Vocab
Cards: 13| Attempts: 3| Last updated: Sep 22, 2015
  Developed Nations
  Have A Market Economy, A Relativey High Stand...
  Transitional Economies
  A Country That Has Moved (or Ismoving) From A...
  Less Developed Countries (LDC)
  Has A Lower GDP, Less Well Developed Industry...
  Infrastructure
  The Basic Support Systems Needed To Keep An E...
Chapter 16 Economics
Cards: 13| Attempts: 1| Last updated: Sep 22, 2015
  Central Bank
  Nation's Main Monetary Authority
  Monetary
  Term: "relating To Money"
  Federal Reserve System
  The Central Bank Of The U.S.
  Currency
  Coins And Paper Money
Economics Chapter 2
Cards: 13| Attempts: 0| Last updated: Sep 22, 2015
  Economy / Economic System
  An Organized Way Of Providing For The Wants A...
  Traditional Economy
  The Allocation Of Scarce Resources, And Nearl...
  Command Economy 
  One In Which A Central Authority Makes Most O...
  Market Economy
  People And Firms Act In Their Own Best Inters...
Economics Chapter 11
Cards: 13| Attempts: 0| Last updated: Sep 22, 2015
  Savings 
  Income Not Used For Consumption
  Investment
  Use Of Income Today That Allows For A Future ...
  Financial System
  All The Institutions That Help Transfer Funds...
  Financial Asset
  A Claim On The Property Of The Borrower
Economics Chapter 2 Vocab
Cards: 13| Attempts: 0| Last updated: Sep 22, 2015
  Economic System
  The Way A Society Uses Resources To Satisty I...
  Traditional Economy
  An Economic System In Which Ppl Produce And D...
  Command Economy
  Economic System In Which The Gov Makes All Ec...
  Market Economy
  An Economic System In Which Individual Choice...
Economics Chapter 3
Cards: 13| Attempts: 0| Last updated: Sep 18, 2015
  Demand Curves Show _____ Market Behaviors.
  Buyers
  Supply Curves Show _____market Behaviors.
  Sellers
   _____and _____ Determines Equilibrium P...
  'Supply And Demand
  The Efficiency Principle: Efficiency Is Impor...
  Growth Makes It Possible For Each Person To H...
Economics Chapter 3
Cards: 13| Attempts: 0| Last updated: Sep 18, 2015
  A Schedule Of Curve That Shows The Various Am...
  Demand
  The Principle That, Other Things Equal, As Pr...
  Law Of Demand
  A Curve Illustrating The Inverse Relationship...
  Demand Curve
  Factors Other Than Price That Locate The Posi...
  Determinants Of Demand
Economics Chapter 4
Cards: 13| Attempts: 0| Last updated: Sep 18, 2015
  A Measure Of The Responsiveness Of The Quanti...
  Price Elasticity Of Demand
  What Is The Formula For Measuring Elasticity?
  (Change In Quantity Demanded / Original) / (C...
  Product Demand For Which Price Changes Cause ...
  Elastic Demand
  Product Demand For Which Price Changes Cause ...
  Inelastic Demand
Economics Chapter 14 Vocab
Cards: 13| Attempts: 0| Last updated: Sep 22, 2015
  Tax
  A Mandatory Payment To A Gov
  Revenue
  Gov Income Fr Taxes And Other Sources
  Tax Base
  Form Of Wealth (income, Property, Goods, Or S...
  Individual Income Tax
  Based On An Individual's Income Fr All So...


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