
Chapter 2 Economic Factors
Flashcard
•
Business
•
1st - 5th Grade
•
Practice Problem
•
Hard
Samantha Havard
FREE Resource
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15 questions
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1.
FLASHCARD QUESTION
Front
Consumer Price Index (CPI)
Back
A measure of the average change in prices paid by consumers for goods and services over time; commonly used to track inflation.
2.
FLASHCARD QUESTION
Front
Economic Cycle
Back
The natural fluctuation of the economy between periods of expansion (growth) and contraction (recession). Also called the business cycle.
3.
FLASHCARD QUESTION
Front
Gross Domestic Product (GDP)
Back
The total value of all goods and services produced within a country over a specific period; a key indicator of economic health.
4.
FLASHCARD QUESTION
Front
Economic Indicators
Back
Statistics used to evaluate the overall health of the economy (e.g., GDP, CPI, unemployment rate, etc.). They can be leading, lagging, or coincident.
5.
FLASHCARD QUESTION
Front
Currency Valuation
Back
The value of one currency in terms of another, influenced by interest rates, inflation, trade balance, and market supply and demand.
6.
FLASHCARD QUESTION
Front
Balance of Trade
Back
The difference between a country's exports and imports of goods and services. A trade surplus means exports > imports; a trade deficit means the opposite.
7.
FLASHCARD QUESTION
Front
Supply-Side Economics vs. Keynesian Economics
Back
Supply-side emphasizes tax cuts and deregulation to boost production; Keynesian economics supports government spending to stimulate demand during downturns.
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