Economics Challenge Flashcard

Front

What is the term for money gained after expenses are paid?

Back

Profit

Front

Which term describes items shipped in?

Back

Imports

Front

What is the extra tax on imports called?

Back

Tariff

Front

Which term refers to people who do the work, also known as Human Capital?

Back

Labor resources

Front

What is the term for decisions made by the government?

Back

Command Economy

Front

What is the term for a numbered limit on imports?

Back

Quota

Front

What does the term 'Demand' refer to?

Back

How much of a product is desired; consumer interest

Front

Which term describes tasks performed for money?

Back

Services

Front

What is the study of production and use called?

Back

Economics

Front

What is the term for consumer happiness based on available services?

Back

Standard of living