Econ Semester Final

International Trade left to its natural course without tariffs, quotas, or other restrictions.

• Free Trade

• ECommerce

• Monopoly

• Tariff

Electronic Business or Exchange concluded over the internet

• Tariff

• Ecommerce

• Appreciation

• Entitlement

12 Month Financial Planning Period that may not coincide with the calendar year; October 1 to September 30 for the federal government.

• Scarcity

• Entitlement

• Fiscal Year

• Subsidy

Tax placed on an imported product

• Tariff

• Entitlement

• Scarcity

• Economics

Is an increase in the value of an asset over time

• Appreciation

• Scarcity

• Law Of Demand

• Monopoly

Gradual wear on capital goods

• Embargo

• Appreciation

• Depreciation

• Law Of Demand

Program or benefit using established eligibility requirements to provide health, nutritional, or income supplements to individuals.

• Federal Budget

• Law Of Demand

• Subsidy

• Entitlement

Annual plan outlining proposed expenditures and anticipated revenues.

• Appreciation

• Scarcity

• Federal Budget

• Law Of Demand

Market structure characterized by a single producer; form of imperfect competition.

• Ecommerce

• Free Trade

• Monopoly

• Depreciation

Rule stating that more will be demanded at lower prices and less at higher prices; inverse relationship between price and quantity demanded

• Marginal Utility

• Standard

• Trade Deficit

• Law Of Demand