Your Mom Its Almost Over Buh Bye Peace Out Home Skillet

Automobiles and car insurance are examples of these types good and services

Complimentary goods and services

Capital, human, and natural are these types of resources

Productive Resources

Reason why becoming an entrepreneur is so risky

More than half of all businesses fail within the first 4 years

The medicare program taking funding away from other beneficial government programs is an example of this

Opportunity Cost

If a company considers changing their production, looking at the production possibility curve of a decision would show them this

The opportunity cost

If an entrepreneur closes a business in order to attend an event, this would be their opportunity cost

Lost income

When comparison shopping, you are actually looking at this aspect of the purchase

Opportunity Cost

In a manufacturing business, this would be considered the capital

Machines used to make the goods

Marxism is about this types of economic system

Command Economy

Inherited resource ownership and large numbers of workers engaging in subsistence farming characterize this type of economy

Traditional Economy

Businesses and consumers driving the economy describes this type of economy

Market Economy

Choosing a CD instead of a savings account has a higher this because it is invested for a longer period of time

Opportunity Cost

A decrease in demand greater than a decrease in supply will result in this

Lower Equilibrium Price

If consumers are willing to pay a higher price for something then the demand for that product is considered this

Price inelastic

When demand of a product is less than the quantity supplied, this is the result

Surplus

The Securities and Exchange Commission regulates this

Purchase and sales of stocks

Reason why patents are a barrier to the market

They prevent competition from making similar products

The reason for the government doing this would be to ensure that all workers receive a living wage

Raising minimum wage

A downturn in GDP for 2 or more consecutive quarters

Recession

An increase in labor productivity will result in this

An increase in aggregate supply

The government would increase spending during this

Recession

The federal government having to declare that the dollar is legal tender, proves US money is this

Fiat Money

Too much money chasing too few goods

Inflation

This government program started during the NEW DEAL was to safeguard the savings of people if banks failed

FDIC

Putting coins in a jar is an example of money’s this

Store of Value