Year 12s: what will be the first way you research your future options? >>

Year 12s: what will be the first way you research your future options? >>

Year 12s: what will be the first way you research your future options? >>

The Economics Game

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Satisficing - when a firm balances out all of its objectives in an attempt to keep all stakeholders happy

OR

Economies of Scale - Long-run falling average costs

which ever one is right

(edited 12 years ago)

Laissez-Faire: (18th cent., I know) 'to allow to do'; when the gov't has no say in the economy with the exception of being a consumer of private firms' commodoties.

Reserve ratio.

Inflation: increase of prices/goods/services

Natural Monopoly

Liquidity: when an asset is able to be converted into money

tax

Aggregate Supply - Total output of good and services in an economy

TheGirlNextDoor

Original post by franzk

Aggregate Supply - Total output of good and services in an economy

Longevity - One of the factors measured when calculating HDI.

True Cost Economics - An economic model that includes the cost of negative externalities into the pricing of goods and services.

TheGirlNextDoor

Consumer Price Index - A measure of inflation.

Equilibrium - state of balance with no incentive to change

Utility - level of enjoyment an individual gets from choosing from a combination of goods

TheGirlNextDoor

Trade - The exchange of goods/services.

Democratic Mixed Capitalism: foundation of multiparties democracy and various types of capitalist ownerships

TheGirlNextDoor

Seasonal Unemployment - Unemployment due to change in demand of labour because of a change in seasons.

Nominal Values - Data not adjusted for the rate of inflation

TheGirlNextDoor

Euro Zone - Greece. That is all.

Exchange rate - expressing one currency relative to another.

trade in invisibles

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