Hint | First Letter | Answer | % Correct |
---|---|---|---|
To buy or bring in (goods or services) from a foreign country. | I | Import | 90%
|
The part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity. | M | Macroeconomics | 74%
|
Exclusive control of the market supply of a product or service. | M | Monopoly | 74%
|
A temporary depression in economic activity or prosperity. | R | Recession | 73%
|
The part of economics concerned with single factors and the effects of individual decisions. | M | Microeconomics | 71%
|
A period of high economic growth characterized by rising wages, profits, and prices, full employment, and high levels of investment, trade, and other economic activity. | B | Boom | 68%
|
An economic system in which production and prices are determined by unrestricted competition between privately owned businesses. | M | {Market} economy | 63%
|
The loss of potential gain from other alternatives when one alternative is chosen. | O | Opportunity cost | 60%
|
An economic system combining private and public enterprise. | M | {Mixed} economy | 59%
|
Capital that is provided for a new commercial enterprise by individuals or organizations other than those who own the new enterprise. | V | {Venture} capital | 51%
|
The rate of interest used by individual commercial banks as a basis for their lending rates. | B | {Base} rate | 44%
|
An economic system in which traditions, customs and beliefs shape the goods and services the society produces. | T | {Traditional} economy | 34%
|
An economy in which business activities and the allocation of resources are determined by government order rather than market forces. | C | {Command} economy | 32%
|
The difference in value between total exports and total imports of goods. | B | Balance of trade | 27%
|
The amount by which government expenditure exceeds income from taxation, customs duties, etc, in any one fiscal year. | B | Budget deficit | 26%
|
A service or other asset used to produce goods and services that meet human needs and wants. | R | Resource | 22%
|
A description of a market or economy that takes all opportunities to make some people better off without making other people worse off. | E | Efficient | 20%
|
A school of economic thought that emphasizes the importance to a strong economy of policies that remove impediments to supply. | S | {Supply-side} economics | 18%
|
The unemployment that remains in periods of full employment, as a result of those mentally, physically, or emotionally unfit to work. | R | {Residual} unemployment | 17%
|
The part of economics that focuses on the idea of fairness and what the outcome of the economy or goals of public policy ought to be. | N | {Normative} economics | 16%
|
The branch of economics concerned with describing and explaining economic phenomena, focused on facts and behavioral relationships of cause and effect. It includes the development and testing of economic theories. | P | {Positive} economics | 14%
|
The practice of dividing a share of the profits of a business among employees, in addition to paying their regular wages and salaries. | P | Profit sharing | 12%
|
The ratio of export prices to import prices. | T | Terms of trade | 10%
|
Money (usually of a specific country) that is liable to depreciate in value and is therefore difficult to exchange for another currency. | S | {Soft} currency | 8%
|
The level of subsistence or material welfare of a community, class, or person. | S | Standard of living | 7%
|
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