Economics

Generally speaking a mixed economy is one where the government has controls over private industry through various types of regulations. One example is the setting of the minimum wage. For the most part a mixed economy does not require the government to actually own any of the means of production. Also, a mixed economy creates "authorities" to operate tunnels, bridges and airports.

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A trade-off is an alternative that we sacrifice when we make a decision.

Yes, Price effect = substitution effect + income effect

Either the price drops until the consumers are prepared to buy more, or supplier are left holding surplus stocks until replacement purchases clear these inventories.

No manufactured good is truly non-perishable, and so will eventually require replacement.

BUTT

They are called factor payments.

immediate demand for a good will go up if it's price is expected to rise.

this is how population changes affect demand for certain goods.

agreement on the price and quantity traded

equity

Safety Net!

economic effiency

saws and drills

Customs and traditions.

A unitary-elastic supply indicates a good with a supply-price elasticity of one, which means that a 1% change in price increases supply by 1%.

A person wants an endless supply of everything but cannot have it.

Sales and comssion on other categories

hard work and patience

A layoff of 500 workers at the city's airport could cause the demand curve for cars in your city to the left.

Federeal Deposit Insurance Corporation (FDIC)

whether to spend your two-week vacation on the shore or in town

Objects that have value in themselves and are also used as money are referred to as commodity money.

The money multiplier formula is the amount of new money that will be created with each demand deposit, calculated as 1 ÷ RRR.

Most workers lack job security.