Economics Review

supply

• The amount of goods available

• The total demand for goods

• The price of goods in the market

• The distribution of goods across regions

Stockbrockers

• link buyers and sellers of stock

• manage company finances

• analyze market trends

• provide investment advice

Economics

• The study of how people seek to satisfy their needs and wants by making choices

• The analysis of government policies and their impact on the economy

• The examination of historical events and their economic implications

• The exploration of natural resources and their distribution

surplus

• supply exceeds demand

• demand exceeds supply

• equilibrium between supply and demand

• market is saturated

Market Price (Equilibrium Price)

• calculated when supply curve and demand curve intersect on a supply and demand graph

• the price at which the quantity supplied exceeds the quantity demanded

• the price set by the government for essential goods

• the average price of goods in a competitive market

supply and demand

• An economic principle that states the price of a good is determined by its production cost.

• An economic concept that states that the price of a good rises and falls depending on how many people want it (demand) and depending on how much of the good is available (supply).

• A theory that suggests that government intervention is necessary to stabilize prices in the market.

• A model that explains how consumer preferences influence the production of goods.

New York Stock Exchange (NYSE)

• The world's largest stock exchange, located in New York City, with 2800 traded companies valued at over $21 trillion (in 2017)

• A major stock exchange located in London, known for its technology companies

• The second largest stock exchange in the world, located in Tokyo, Japan

• A stock exchange that primarily trades commodities and is located in Chicago, USA

Centrally planned economy

• An economic system where supply and demand dictate production and consumption.

• An economic system in which the central government makes all decisions on the production and consumption of goods and services.

• An economic system that relies on private ownership and free markets.

• An economic system that focuses on agricultural production and subsistence farming.

supply is constant and demand decreases

• price increases

• price decreases

• quantity supplied increases

• quantity demanded increases

supply decreases and demand increases

• price decreases

• price remains the same

• price increases

• quantity supplied decreases