Supply and Demand and Centrally Planned Economy
Completion
Complete each statement. | | 1. | The hope of reward that encourages a person to behave in a certain way is a(n) _______. incentive | | 2. | A bridge is an example of something that is usually provided as a _________. public good | | 3. | To show how demand for a good will change at specific price points, economists use a ____. Demand curve | | 4. | People will buy more of a good when its price falls and less when its price rises, according to the _______. Law of demand | | 5. | The rate the Federal Reserve charges banks for loaning them money is the _____________________. Discount rate | Fill in the Blank.
Identify the word(s) that best complete(s) the statement or answers the question. | | 6. | A _____production_____ _____possibilities____ ______curve____ shows the relationship between the production of any two categories of goods. | | | | | | | | | | 7. | Open opportunity, private property, contracts, voluntary exchange are basic principles that are fundamental to ____American______ _________Free____ ________Enterprise____. | | | | | | | | | | 8. | When government intervention causes the supply of a good to rise, the supply curve shifts to the _____right_____. | | | | | | | | | | 9. | Elena is looking for an apartment. The fact that Elena misses two days of work at the supermarket to visit several different apartments available for rent is an example of her ____search_____ costs. | | | | | | | | | | 10. | GoodDeeds International is structured like many other major companies, but its goal is to benefit society, not to make money. GoodDeeds is a ___charitable/ non-profit_ organization. | | | | | | | | | | 11. | The ______American Stock Exchange____________ arranges stock and bond trading of top U.S. and world companies. | | | | | | | | | | 12. | Scientific research
Complete each statement. | | 1. | The hope of reward that encourages a person to behave in a certain way is a(n) _______. incentive | | 2. | A bridge is an example of something that is usually provided as a _________. public good | | 3. | To show how demand for a good will change at specific price points, economists use a ____. Demand curve | | 4. | People will buy more of a good when its price falls and less when its price rises, according to the _______. Law of demand | | 5. | The rate the Federal Reserve charges banks for loaning them money is the _____________________. Discount rate | Fill in the Blank.
Identify the word(s) that best complete(s) the statement or answers the question. | | 6. | A _____production_____ _____possibilities____ ______curve____ shows the relationship between the production of any two categories of goods. | | | | | | | | | | 7. | Open opportunity, private property, contracts, voluntary exchange are basic principles that are fundamental to ____American______ _________Free____ ________Enterprise____. | | | | | | | | | | 8. | When government intervention causes the supply of a good to rise, the supply curve shifts to the _____right_____. | | | | | | | | | | 9. | Elena is looking for an apartment. The fact that Elena misses two days of work at the supermarket to visit several different apartments available for rent is an example of her ____search_____ costs. | | | | | | | | | | 10. | GoodDeeds International is structured like many other major companies, but its goal is to benefit society, not to make money. GoodDeeds is a ___charitable/ non-profit_ organization. | | | | | | | | | | 11. | The ______American Stock Exchange____________ arranges stock and bond trading of top U.S. and world companies. | | | | | | | | | | 12. | Scientific research