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"Economics Vocabulary"
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aggregate demand
aggregate supply
allocative efficency
antitrust laws
asymmetric laws
capital
cartel
command economy
comparative advantage
competitive market
consumer price index (cpi)
consumer surplus
deadweight loss
deflation
demand
demand curve
depreciation
diminishing marginal utility
diminishing returns
economic costs
economic model
economic profits
economics
externality
factors in production
financial markets
fiscal policy
fixed costs
full-employment output (y*)
gross domestic product (gdp)
human capital
hyperinflation
increasing returns
inflation
inflation rate
interest rate
investment
invisible hand
law of demand
long-run shutdown condition
macroeconomics
marginal cost
marginal utility
market basket
market economy
market failures
market production
markets
microeconomics
monetary policy
monopolistic competition
monopoly
natural monopoly
nominal interest rates
nominal prices
nominal wages
oligopoly
open-market operations
opportunity cost
perfect competition
price ceiling
price floor
prisoners' dilemma
producer surplus
production possibilites frontier (ppf)
productive efficiency
public goods
quantity demanded
quantity theory of money
rational expectations
real interest rates
real wages
recessions
recoveries
scarcity
short-run shutdown condition
socially optimal output level
sticky wages
supply and demand
supply curve
total surplus
traditional economy
tragedy of the commons
utility
variable costs