Key Terms Economics Study Guide
Key Terms-Final Review
Directions: Review the key terms listed below. Select 10 terms you are not familiar with. Review the 10 terms in your textbook. Post the 10 terms with an explanation of the key term. Include the page number from the text book where you found the explanation of the key term.
· Entrepreneur
· Land
· Human Capital
· Production Possibilities Curve
· Competition
· Free Market
· Safety Net
· Market Economy
· Socialist
· Innovation
· Public Goods
· Elasticity
· Elastic Supply
· Subsidies
· Market Supply Curve
· Supply Curve
· Inelastic
· Black Market
· Rent Control
· Sherman Antitrust Act
· Antitrust Laws
· Sole Proprietorship
· Closely Held Corporation
· Glass Ceiling
· Labor Union
· Finance Company
· Banking before Civil War
· FDIC
· Credit
· Aggregate demand/supply
· Depression
· Poverty Threshold
· “Working Poor”
· Taxable Income
· Deduction
· Federal Reserve System
· Tight Money Policy
· Interest Rates and Money Supply
· Less Developed Country
