ECONDEV

87問 • 2年前

Duane Basada

通報

問題一覧

shows the connection between firms and households in input and output market

circular flow of economic activity

is an organization that transforms rsources (inputs) into products (outputs).

firm

Is a person who organizes managers and assumes the risk of a firm, taking a new idea or a new product and turning it into a successful business

entrepreneur

Are the consuming units in an economy?

household

Are the markets in which goods and services are exchanged?

output

Are the markets in which resources, labor capital and land used to produce products are exchanged

input

In which households supply work for wages to firms that demand labor

labor market

What are the input markets?

labor market, capital market, land market

What are the markets and competition?

market, competitive market, perfectly competitive

It’s a group of buyers and sellers of a particular product

market

is one with many buyers and sellers each has an negligible effect on price

competitive market

All goods are exactly the same and buyers and sellers so numerous that no one can affect market price. Each is a price taker.

perfectly competitive

The amount of the good that buyers are willing and able to purchase

quantity demand

The law of demand is an ____ relationship between price and quantity demand

inverse

At the lower price consumers can buy more of a product without giving up other goods

income effect

At the lower price consumers have the incentive to substitute the cheaper good for similar goods that are now relatively more expensive

substitution effect

States that successive units of all given product used yield less and less extra satisfaction

diminishing marginal utility

It shows the relationship between the price and demand

demand schedule

Is derived by adding all the quantities demand in a demand schedule, which correspond to their prices

market demand

what are the demand shifts?

consumer taste and preference, income, market size, price, consumer expectation

As a new band becomes popular the demand for that band rules when the band gets poor reviews, the demand decreases

consumer taste and preferences

generally, when incoming increases consumers Have more money to spend or more ability

income

A pizza shop deliver To a 5 mile radius the people in that area are their market size if they increase their delivery to 10 miles they are increasing their

market size

What Are the two types of price of related goods?

substitute goods, complementary goods

Similar goods that replace higher price boobs

substitute goods

Good commonly used with other goods

complementary goods

Consumer expects an increase in payday, and to spend more increasing demand, when expecting a low income, they expend less decreasing demand

consumer expectations

what are the 3 economic concepts

income effect, substitution effect, diminishing marginal utility

In which households supply their savings for interest, or for claims to future profits to firms that demands once to buy capital goods

capital market

In which household supply land, and other real property in exchange for rent

land market

Is the amount that sellers are willing and able to sell?

quantity supplied

The law of supply is a___relationship between price and quantity supplied

direct

It is the amount of money remaining after producers have paid all of their costs is called.

profit

What are the supply shift?

price of resources, government tools, technology, competition, prices of related goods, producer expectations

A___shift means an increasein supply

right

a___shift means a decrease in supply

left

Any price we can increase or decrease in resources, will affect their cost

prices of resources

New technology can reduce the cost of production leading to an increase in supply

technology

What are some examples of government tools?

taxes, subsidies, regulations

It is an increase in supply, because there are more companies producing similar goods

competition

Suppliers may choose to produce different goods which are selling for a higher profit

prices of related goods

If the producer thinks the demand for or the price of their product will increase level, increase their supply

producer expectations

This occurs when the buying of household and selling decisions of producers are equated

market equilibrium

This is the difference in the amount demanded, and the amount supplied (quantity demand is more than quantity supplied)

shortage

This is the difference in the amount demanded in the amount supplied (quantity demand is less than quantity supply)

surplus

It is the total monetary or market value Of all finish goods and services produced within a country borders in a specific time period

gross domestic product

What are the influence of cash?

consumption spending, government spending, export

What are the outflows of cash?

taxes, imports, savings

How do you calculate the GDP

GDP=C+G+I+(X-M)

What are the three different ways to measure GDP?

value added approach, income approach, expenditure approach

Who is the founder of the keynesian theory?

john maynard keynes

Who are the followers of monetarist?

clark warburton, milton friedman, ann schwartz, paul volcker

This focuses on the macroeconomic effects of the supply of money in the role of central banking on an economic system

monetarism

Who are the followers of Austrian

carl meneger, friedrick von weiser, eugen von bohm-bawerk

Who are the followers of neoclassical?

adam smith, david ricardo

it About methodological, individualism, or idea that people will act in meaningful way, which can be analyzed

austrian

What are the main tenets of keynesian theory?

unemployment, excessive saving, fiscal policy, the multiplier effect, IS-LM

what are the central tenets of austrian

oppurtunity cost, capital and interest, inflation, business cycle, the organizing power of market

He defines economics as the science of wealth

adam smith

He defines economics as the shifted emphasis from wealth production to wealth distribution

david ricardo

He defines economics as the science of production distribution and conception of wealth

J.B say

He defines economics as the law that governs mankind in the production of wealth. The wealth definition means that wealth was considered to be an end in itself.

J.S. mills

According to him the use of the word material narrows down to the scope of economics because there are many things in the world which are immaterial, but are useful for promoting human welfare

lionel robbins

It is the branch of economics purposes on broad issues, such as growth, unemployment, inflation, and trade balance

macroeconomics

It is the branch of economics opposite on option of particular agents with economy, household workers, and business firms

microeconomics

Limitations or limited, goose or services limited time or limited abilities to achieve the desire and

scarcity

Goods that consumer must pay obtain also called scarce goods

economic goods

These are obtained by consumers for free because they are abundant relative to the demand

free goods

What Are the inputs used in production Of goods and services

land, economic capital, labor, entrepreneurship

This are good and services that are considered transferable scarce and useful to individuals businesses or government

economic product

who purchases the goods and acquire services to satisfy the ones and needs

consumer

Our products that are intended for use by individual such as shoes, backpack scars, or computer

consumer goods

Are items that are manufactured to produce other goods and services such as bulldozer used to clear land for homes, school computers for students or a cash register at grocery store

capital goods

These are considered as an economic product because people will pay to have this done from someone else

service

It is defined as an item that has worth that can be expressed in dollars cents individuals business, and government governments determine if a product or a services is worth the

value

Is the usefulness of an item and must provide the purchaser with some satisfaction

utility

It is determined by the consumer some people may find an item more useful than other

products utility

It is a contradiction in a situation where some things should have value because it useful

paradox of utility

It is documentation of all those products that are scarce,tangible, and transferable from one person to another

wealth

What are the two approaches Of economic development

traditional approach, new welfare oriented approach

It is characterized by predominance of primary sector, agriculture, low per capita, income, widespread, poverty, wide inequality in distribution of income and wealth over population low rate of capital formation higher rate of unemployment, technological, backwardness, and

under developed country

refers to the state of economy were levels of living of masses are extremely low due to very low Levels of per capita income, resulting from low levels of productivity and high growth rate of population

underdevelopment

It means an Increase in real national income/national output. It is also defined as that increase in value of goods and services produced as measured by annual percentage change in real GDP.

economic growth

It means an improvement in the quality of life and living standards

economic development

What are the stages of economic development?

a structural transformation of the economy, a demographic transition, a process of urbanization

What are the stages of economic growth?

traditional society, preconditions to takeoff, takeoff, drive to maturity, age of high mass consumption

What are the measurements of economic development?

gross national product, GNP per capita, welfare, social indicators

Contemporary world

Duane Basada · 71問 · 3年前

Contemporary world

71問 • 3年前

Duane Basada

ARTS APPRECIATION

Duane Basada · 123問 · 2年前

ARTS APPRECIATION

123問 • 2年前

Duane Basada

ECON DEV FINALS

Duane Basada · 32問 · 1年前

ECON DEV FINALS

32問 • 1年前

Duane Basada

問題一覧

shows the connection between firms and households in input and output market

circular flow of economic activity

is an organization that transforms rsources (inputs) into products (outputs).

firm

Is a person who organizes managers and assumes the risk of a firm, taking a new idea or a new product and turning it into a successful business

entrepreneur

Are the consuming units in an economy?

household

Are the markets in which goods and services are exchanged?

output

Are the markets in which resources, labor capital and land used to produce products are exchanged

input

In which households supply work for wages to firms that demand labor

labor market

What are the input markets?

labor market, capital market, land market

What are the markets and competition?

market, competitive market, perfectly competitive

It’s a group of buyers and sellers of a particular product

market

is one with many buyers and sellers each has an negligible effect on price

competitive market

All goods are exactly the same and buyers and sellers so numerous that no one can affect market price. Each is a price taker.

perfectly competitive

The amount of the good that buyers are willing and able to purchase

quantity demand

The law of demand is an ____ relationship between price and quantity demand

inverse

At the lower price consumers can buy more of a product without giving up other goods

income effect

At the lower price consumers have the incentive to substitute the cheaper good for similar goods that are now relatively more expensive

substitution effect

States that successive units of all given product used yield less and less extra satisfaction

diminishing marginal utility

It shows the relationship between the price and demand

demand schedule

Is derived by adding all the quantities demand in a demand schedule, which correspond to their prices

market demand

what are the demand shifts?

consumer taste and preference, income, market size, price, consumer expectation

As a new band becomes popular the demand for that band rules when the band gets poor reviews, the demand decreases

consumer taste and preferences

generally, when incoming increases consumers Have more money to spend or more ability

income

A pizza shop deliver To a 5 mile radius the people in that area are their market size if they increase their delivery to 10 miles they are increasing their

market size

What Are the two types of price of related goods?

substitute goods, complementary goods

Similar goods that replace higher price boobs

substitute goods

Good commonly used with other goods

complementary goods

Consumer expects an increase in payday, and to spend more increasing demand, when expecting a low income, they expend less decreasing demand

consumer expectations

what are the 3 economic concepts

income effect, substitution effect, diminishing marginal utility

In which households supply their savings for interest, or for claims to future profits to firms that demands once to buy capital goods

capital market

In which household supply land, and other real property in exchange for rent

land market

Is the amount that sellers are willing and able to sell?

quantity supplied

The law of supply is a___relationship between price and quantity supplied

direct

It is the amount of money remaining after producers have paid all of their costs is called.

profit

What are the supply shift?

price of resources, government tools, technology, competition, prices of related goods, producer expectations

A___shift means an increasein supply

right

a___shift means a decrease in supply

left

Any price we can increase or decrease in resources, will affect their cost

prices of resources

New technology can reduce the cost of production leading to an increase in supply

technology

What are some examples of government tools?

taxes, subsidies, regulations

It is an increase in supply, because there are more companies producing similar goods

competition

Suppliers may choose to produce different goods which are selling for a higher profit

prices of related goods

If the producer thinks the demand for or the price of their product will increase level, increase their supply

producer expectations

This occurs when the buying of household and selling decisions of producers are equated

market equilibrium

This is the difference in the amount demanded, and the amount supplied (quantity demand is more than quantity supplied)

shortage

This is the difference in the amount demanded in the amount supplied (quantity demand is less than quantity supply)

surplus

It is the total monetary or market value Of all finish goods and services produced within a country borders in a specific time period

gross domestic product

What are the influence of cash?

consumption spending, government spending, export

What are the outflows of cash?

taxes, imports, savings

How do you calculate the GDP

GDP=C+G+I+(X-M)

What are the three different ways to measure GDP?

value added approach, income approach, expenditure approach

Who is the founder of the keynesian theory?

john maynard keynes

Who are the followers of monetarist?

clark warburton, milton friedman, ann schwartz, paul volcker

This focuses on the macroeconomic effects of the supply of money in the role of central banking on an economic system

monetarism

Who are the followers of Austrian

carl meneger, friedrick von weiser, eugen von bohm-bawerk

Who are the followers of neoclassical?

adam smith, david ricardo

it About methodological, individualism, or idea that people will act in meaningful way, which can be analyzed

austrian

What are the main tenets of keynesian theory?

unemployment, excessive saving, fiscal policy, the multiplier effect, IS-LM

what are the central tenets of austrian

oppurtunity cost, capital and interest, inflation, business cycle, the organizing power of market

He defines economics as the science of wealth

adam smith

He defines economics as the shifted emphasis from wealth production to wealth distribution

david ricardo

He defines economics as the science of production distribution and conception of wealth

J.B say

He defines economics as the law that governs mankind in the production of wealth. The wealth definition means that wealth was considered to be an end in itself.

J.S. mills

According to him the use of the word material narrows down to the scope of economics because there are many things in the world which are immaterial, but are useful for promoting human welfare

lionel robbins

It is the branch of economics purposes on broad issues, such as growth, unemployment, inflation, and trade balance

macroeconomics

It is the branch of economics opposite on option of particular agents with economy, household workers, and business firms

microeconomics

Limitations or limited, goose or services limited time or limited abilities to achieve the desire and

scarcity

Goods that consumer must pay obtain also called scarce goods

economic goods

These are obtained by consumers for free because they are abundant relative to the demand

free goods

What Are the inputs used in production Of goods and services

land, economic capital, labor, entrepreneurship

This are good and services that are considered transferable scarce and useful to individuals businesses or government

economic product

who purchases the goods and acquire services to satisfy the ones and needs

consumer

Our products that are intended for use by individual such as shoes, backpack scars, or computer

consumer goods

Are items that are manufactured to produce other goods and services such as bulldozer used to clear land for homes, school computers for students or a cash register at grocery store

capital goods

These are considered as an economic product because people will pay to have this done from someone else

service

It is defined as an item that has worth that can be expressed in dollars cents individuals business, and government governments determine if a product or a services is worth the

value

Is the usefulness of an item and must provide the purchaser with some satisfaction

utility

It is determined by the consumer some people may find an item more useful than other

products utility

It is a contradiction in a situation where some things should have value because it useful

paradox of utility

It is documentation of all those products that are scarce,tangible, and transferable from one person to another

wealth

What are the two approaches Of economic development

traditional approach, new welfare oriented approach

under developed country

underdevelopment

It means an Increase in real national income/national output. It is also defined as that increase in value of goods and services produced as measured by annual percentage change in real GDP.

economic growth

It means an improvement in the quality of life and living standards

economic development

What are the stages of economic development?

a structural transformation of the economy, a demographic transition, a process of urbanization

What are the stages of economic growth?

traditional society, preconditions to takeoff, takeoff, drive to maturity, age of high mass consumption

What are the measurements of economic development?

gross national product, GNP per capita, welfare, social indicators