Economics Vocabulary

Theory Y

________ states that people are naturally ambitious, and only need a guiding hand to improve.

Whistleblowers

What are also protected legally by the government to some extent? Answer with a single words or term.

Sustainability

________ is the measure of how something can be maintained- it also refers to how eco- friendly some markets are.

CSR

What is defined as social contributions a business takes? Answer with a single words or term.

Recovery

What is the uplifting an economy experiences after a trough, recession, or depression? Answer with a single words or term.

Environmental Protection Agency

The ________ regulates how chemicals and pollutants are used.

Exports

________ are products a country sends to other countries for trading purposes.

Methods of production

________ may include free, voluntary labor or paid jobs.

Demographics

________ are the estimated statistics (age, ethnicity, gender, etc) of a consumer group who buy a product.

CPI

The ________ tracks the price of goods and services as they increase of time.

Ethics

________ is the standard of what is right and wrong- they are generally based on values.

expansion process

The ________ occurs with positive economic indicators (GDP, employment, consumer confidence) rising.

sole proprietorship

A(n) ________ is a business owned by only one person.

franchise

What is a method of distributing products from a(n) ________? Answer with a single words or term.

Nobody

________ can influence the market price of their product- this usually occurs in command economies.

Identity theft

________ occurs when unauthorized beings make purchases on another persons account or uses their information.

production process

What is decided by the central planners, who allocate resources to trusted companies? Answer with a single words or term.

Market research

________ is determining the general background of the product being sold (demographics) and using that data in order to improve the product.

SWOT analysis

A(n) ________ analyzes the market a business enters, and what factors might effect it.

Economics

What is the study of money and how it is exchanged? Answer with a single words or term.

Communism

What is a classless society in which the central government chooses for the people? Answer with a single words or term.

proxy

What is the ability to represent someone else in voting? Answer with a single words or term.

Sweatshops

________ are shops that accept workers (forced or not forced) to work for them at little to no cost.

Contraction

________ occurs after the peak, when the economy is stable, although consumer confidence slowly decreases.

entrepreneur

What is a person who seeks to start a business venture? Answer with a single words or term.