WGU C201 Business Acumen
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C201 Business Acumen Questions WGU C201 - Section 6: Economic An... Econ 102 Final
109 terms 48 terms 58 terms
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situation in which total revenues raised by taxes equal the total
balanced budget
proposed spending for the year.
organization's plan for how it will raise and spend money during
budget
a given period of time.
The primary sources of government funds to cover the costs of
taxes, fees, and borrowing.
the annual budget are
situation in which the government spends more than the amount
budget deficit
of money it raises through taxes.
excess funding that occurs when government spends less than
budget surplus
the amount of funds raised through taxes and fees.
economic system that rewards companies for their ability to
capitalism perceive and serve the needs and demands of consumers; also
called the private enterprise system.
- Pure Competition Types of Competition
- Monopolistic Competition
- Oligopoly
- Monopoly
economic system in which all property would be shared equally
communism by the people of a community under the direction of a strong
central government.
measurement of the monthly average change in prices of goods
Consumer Price Index (CPI)
and services.
inflation rate of an economy after energy and food prices are
core inflation rate
removed.
people who are out of work because of a cyclical contraction in
cyclical unemployment
the economy.
deflation opposite of inflation, occurs when prices continue to fall.
demand willingness and ability of buyers to purchase goods and services.
graph of the amount of a product that buyers will purchase at
demand curve
different prices.
social science that analyzes the choices people and
economics
governments make in allocating scarce resources.
, equilibrium price prevailing market price at which you can buy an item.
government actions to increase the money supply in an effort to
cut the cost of borrowing, which encourages business decision
expansionary monetary policy
makers to make new investments, in turn stimulating employment
and economic growth.
government spending and taxation decisions designed to
fiscal policy control inflation, reduce unemployment, improve the general
welfare of citizens, and encourage economic growth.
applies to members of the workforce who are temporarily not
frictional unemployment
working but are looking for jobs.
sum of all goods and services produced within a country's
gross domestic product (GDP)
boundaries during a specific time period, such as a year.
hyperinflation economic situation characterized by soaring prices.
economic situation characterized by rising prices caused by a
combination of excess consumer demand and increases in the
inflation
costs of raw materials, component parts, human resources, and
other factors of production.
study of a nation's overall economic issues, such as how an
macroeconomics economy maintains and allocates resources and how a
government's policies affect the standards of living of its citizens.
study of small economic units, such as individual consumers,
microeconomics
families, and businesses.
economic system that draws from both types of economies, to
mixed market economies
different degrees.
government actions to increase or decrease the money supply
monetary policy and change banking requirements and interest rates to influence
bankers' willingness to make loans.
market structure in which large numbers of buyers and sellers
monopolistic competition exchange heterogeneous products so each participant has some
control over price.
market structure in which a single seller dominates trade in a
monopoly
good or service for which buyers can find no close substitutes.
money owed by government to individuals, businesses, and
national debt government agencies who purchase Treasury bills, Treasury
notes, and Treasury bonds sold to cover expenditures.
No, a balanced budget does not Does a balanced budget erase the national debt?
erase the national debt; it just
doesn't increase it.
The U.S. government acquires What are the three primary sources of government funds?
funds through taxes, fees, and
borrowing.
Save
Students also studied
C201 Business Acumen Questions WGU C201 - Section 6: Economic An... Econ 102 Final
109 terms 48 terms 58 terms
kimprofservices Preview ccomia1 Preview emlenz4
situation in which total revenues raised by taxes equal the total
balanced budget
proposed spending for the year.
organization's plan for how it will raise and spend money during
budget
a given period of time.
The primary sources of government funds to cover the costs of
taxes, fees, and borrowing.
the annual budget are
situation in which the government spends more than the amount
budget deficit
of money it raises through taxes.
excess funding that occurs when government spends less than
budget surplus
the amount of funds raised through taxes and fees.
economic system that rewards companies for their ability to
capitalism perceive and serve the needs and demands of consumers; also
called the private enterprise system.
- Pure Competition Types of Competition
- Monopolistic Competition
- Oligopoly
- Monopoly
economic system in which all property would be shared equally
communism by the people of a community under the direction of a strong
central government.
measurement of the monthly average change in prices of goods
Consumer Price Index (CPI)
and services.
inflation rate of an economy after energy and food prices are
core inflation rate
removed.
people who are out of work because of a cyclical contraction in
cyclical unemployment
the economy.
deflation opposite of inflation, occurs when prices continue to fall.
demand willingness and ability of buyers to purchase goods and services.
graph of the amount of a product that buyers will purchase at
demand curve
different prices.
social science that analyzes the choices people and
economics
governments make in allocating scarce resources.
, equilibrium price prevailing market price at which you can buy an item.
government actions to increase the money supply in an effort to
cut the cost of borrowing, which encourages business decision
expansionary monetary policy
makers to make new investments, in turn stimulating employment
and economic growth.
government spending and taxation decisions designed to
fiscal policy control inflation, reduce unemployment, improve the general
welfare of citizens, and encourage economic growth.
applies to members of the workforce who are temporarily not
frictional unemployment
working but are looking for jobs.
sum of all goods and services produced within a country's
gross domestic product (GDP)
boundaries during a specific time period, such as a year.
hyperinflation economic situation characterized by soaring prices.
economic situation characterized by rising prices caused by a
combination of excess consumer demand and increases in the
inflation
costs of raw materials, component parts, human resources, and
other factors of production.
study of a nation's overall economic issues, such as how an
macroeconomics economy maintains and allocates resources and how a
government's policies affect the standards of living of its citizens.
study of small economic units, such as individual consumers,
microeconomics
families, and businesses.
economic system that draws from both types of economies, to
mixed market economies
different degrees.
government actions to increase or decrease the money supply
monetary policy and change banking requirements and interest rates to influence
bankers' willingness to make loans.
market structure in which large numbers of buyers and sellers
monopolistic competition exchange heterogeneous products so each participant has some
control over price.
market structure in which a single seller dominates trade in a
monopoly
good or service for which buyers can find no close substitutes.
money owed by government to individuals, businesses, and
national debt government agencies who purchase Treasury bills, Treasury
notes, and Treasury bonds sold to cover expenditures.
No, a balanced budget does not Does a balanced budget erase the national debt?
erase the national debt; it just
doesn't increase it.
The U.S. government acquires What are the three primary sources of government funds?
funds through taxes, fees, and
borrowing.
