Topic 2.3

34問 • 1年前

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___________ describes an increase in the average cost of goods or services over a period of time.

Inflation

______________ measures how much more expensive a set of goods and services has become over a certain period, usually a year.

Inflation

___________ that occurs rapidly is a measure of economic instability or downturn while steady inflation is usually predicted as a normal economic factor.

Inflation

Inflation describes an __________ in the average cost of goods or services over a period of time. Inflation measures how much _____ expensive a set of goods and services has become over a certain period, usually a year. Inflation that occurs rapidly is a measure of economic ___________or __________while steady inflation is usually predicted as a normal economic factor.

increase, more, instability, downturn

In economics, the ____________ is a measure of inflation, the rate of increase of a price index (in the below case: consumer price index). It is the percentage rate of change in price level over time.

inflation rate

_______ is one of the most popular measures of inflation and deflation.

CPI

___________ measures the overall change in consumer prices based on a representative basket of goods and services over time.

CPI (Consumer Price Index)

The ______ is the most widely used measure of inflation, closely followed by policymakers, financial markets, businesses, and consumers.

CPI

Long-lasting episodes of high inflation are often the result of lax monetary policy. If the money supply grows ____ big relative to the size of an economy, the unit value of the currency diminishes; in other words, its purchasing power ______ and prices _____. This relationship between the money supply and the size of the economy is called the _______________ of money and is one of the _________ hypotheses in economics.

too, fall, rise, quantity theory, oldest

Pressures on the supply or demand side of the economy can also be inflationary. Supply shocks that disrupt production, such as natural disasters, or raise production costs, such as high oil prices, can reduce overall supply and lead to “cost-push” inflation, in which the impetus for price ___________ comes from a disruption to supply.

increase

Conversely, demand shocks, such as a stock market rally, or expansionary policies, such as when a central bank _______ interest rates or a government ________ spending, can temporarily boost overall demand and economic growth. If, however, this increase in demand exceeds an economy’s production capacity, the resulting strain on resources is reflected in “demand-pull” inflation.

lower, raise

_______________ must find the right balance between boosting demand and growth when needed without overstimulating the economy and causing inflation.

Policy makers

Expectations also play a key role in determining inflation. If people or firms anticipate ________ prices, they build these expectations into wage negotiations and contractual price adjustments (such as automatic rent increases).

higher

_____________ is drawing benefits from a resource, product, or service.

Consumption

_______________ regulates the supply and demand for products and services in an economy.

consumption volume

The study of buying behavior is quintessential in economics. The study estimates poverty levels and the average spending of each household. These values are used to determine a country’s _________. ___________ levels also signify a nation’s standard of living.

GDP, Consumption

_____________ is the basis of any economic or human activity.

Consumption

It is simply the act of using or drawing benefits from a resource, product, or service to fulfill a need or to attain satisfaction.

Consumption

As long as there is _______________, business activities, and companies will continue.

consumption

______________ is the beginning and the end of any business activity in a society.

Consumption

Even if an individual tries to consume less, they still have to indulge in basic food and shelter. This is known as _______________.

autonomous consumption

______________ try to attain the right balance between excessive consumer saving and excessive spending. If there is _____ consumption, supply is more, but demand is less. This can lead to inventory losses. At the opposite end of the spectrum, overconsumption can lead to the depletion of crucial resources.

Government, less

Governments try to attain the right balance between excessive consumer saving and excessive spending. If there is less consumption, supply is _____ but demand is _____. This can lead to inventory losses. At the opposite end of the spectrum, overconsumption can lead to the depletion of crucial resources.

more, less

Factors of Consumption :

Family Size, Age, Education, Employment, Interest Rates

When studying a regular household, family size denotes the number of purchases a family makes for utilities, resources, and different types of goods and services. The _________ the family, the __________ the purchase.

larger, larger

When we compare a single product, age becomes critical. This is because many products specifically target a section of a population and, in most cases, a specific age bracket. Even otherwise, growing children consume _____ than average quantities of food. Similarly, an old or weak person might consume _____ than a regular person.

more, less

Education constitutes the ____________ factor that impacts buying behaviors. An educated person is expected to have a comparatively rational approach toward the purchase—they are more likely to put needs ahead of wants. Also, intellectual pursuits create demand for specific products and services—books, podcasts, nebula, curiosity stream subscriptions, etc.

psychological

An employed person is more likely to budget their purchase. On the other hand, an unemployed person has ________ purchasing power. During an economic recession, overall market demand ___________. Economic growth is the polar opposite—employee wages _____—demand and sales _____.

lesser, decrease, rise, rise

___________ refers to the money that a person has left over after they subtract out their consumer spending from their disposable income over a given time period.

Savings

___________ therefore, represents a net surplus of funds for an individual or household after all expenses and obligations have been paid.

Savings

A _______ real interest rate will give a ________ return on saving as banks offer more favorable rates.

higher, greater

_____ returns on risky forms of saving, e.g. stocks and bonds, make it _____ advantageous to hold money savings (in contention between Keynesian and Monetarist views here, mostly because of differences in definitions).

Poor, more

______ expectation for future economic growth, _________ households' savings as a precaution for a grim future.

poor, increase

_____ disposable income after fixed expenditures (such as mortgage, heating bill, basic goods purchases) have been made

Topic 1

Mikyii · 67問 · 1年前

Topic 1