Economics Final Quiz: Economic Growth & Sustainability Concepts

Front

What are the key qualities of economic growth beyond GDP?

Back

Sustainability, Innovation, and Equity.

Front

What is a sustainable, ethical economy?

Back

One that balances prosperity with justice and stewardship.

Front

What is regulation?

Back

A rule or directive made and maintained by an authority, particularly the government.

Front

What is market regulation?

Back

Government intervention to correct market failures, reduce monopolies, and encourage competition.

Front

What is fair competition?

Back

A market condition with no unfair advantages and benefits for consumers.

Front

What is a subsidy?

Back

Financial assistance from the government to promote economic activity.

Front

What are public goods?

Back

Goods that are non-excludable and non-rivalrous, like street lighting.

Front

What is fiscal policy?

Back

The use of taxes and government spending to influence the economy.

Front

What is monetary policy?

Back

Central bank actions to control money supply and interest rates.

Front

What is a deficit?

Back

When government spending exceeds revenue.