Test Remediation by Gabriela Ascencio-Gonzalez _ Student - EastWakeHS https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9 vocabulary en-us 2020-03-13 15:49:01 UTC 2020-03-23 18:43:11 UTC hello@padlet.com https://padlet.net/icons/png/1f642.png Command Economy gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471397270 An economy in which production, investment, prices, and incomes are determined centrally by a government

Ex) Cuba, North Korea, Russia]]> 2020-03-23 17:32:21 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471397270 Market Economy gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471408770 An economic system in which production and prices are determined by unrestricted competition between privately owned businesses ]]> 2020-03-23 17:39:29 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471408770 Market Economy gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471409681 An economic system in which production and prices are determined by unrestricted competition between privately owned businesses, (goal is to make the most money possible ]]> 2020-03-23 17:40:05 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471409681 Market Economy gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471409786 An economic system in which production and prices are determined by unrestricted competition between privately owned businesses, (goal is to make the most money possible thr]]> 2020-03-23 17:40:10 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471409786 Market Economy gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471410635 An economic system in which production and prices are determined by unrestricted competition between privately owned businesses, (goal is to make the most money possible)

Ex) United States ]]> 2020-03-23 17:40:43 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471410635 Market Economy gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471410913 An economic system in which production and prices are determined by unrestricted competition between privately owned businesses, (goal is to make the most money possible)

Ex) United States ]]> 2020-03-23 17:40:55 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471410913 Market Economy gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471412813 An economic system in which production and prices are determined by unrestricted competition between privately owned businesses, (goal is to make the most money possible)

Ex) United States, Canada, Mexico]]> 2020-03-23 17:42:14 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471412813 Market Economy gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471412954 An economic system in which production and prices are determined by unrestricted competition between privately owned businesses, (goal is to make the most money possible)

Ex) United States, Canada, Mexico]]> 2020-03-23 17:42:19 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471412954 Traditional Economy gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471419398 An economy that relies on customs, history, and time honored beliefs, tradition guides economic decisions an distribution

Ex) Aboriginal and Torres islanders ]]> 2020-03-23 17:47:02 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471419398 Factor Market gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471422700 A market where businesses purchase the items needed to produce goods or services 

Ex) Capital, Labor, Raw Materials, Entrepreneurship, Land]]> 2020-03-23 17:49:02 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471422700 Product Market gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471428106 A market that focuses on finished goods purchased by consumers, businesses, the public sector, and foreign buyers

Ex) Airlines, phones, cars, pharmaceutical products]]> 2020-03-23 17:52:33 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471428106 Mixed Economy gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471451736 An economic system combing private and public enterprise 

Ex) Sweden, France]]> 2020-03-23 18:07:18 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471451736 Law of Demand gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471455952 States as the price of a product increases, the demand for the same product decreases

Ex) Holidays, Groceries, Restaurants]]> 2020-03-23 18:09:09 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471455952 Surplus gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471464027 Too much of a product is being produced compared to the demand

Ex) Surplus in bathing suits in the winter]]> 2020-03-23 18:13:17 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471464027 Monopoly gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471468345 A market structure characterized by a single seller, selling a unique product in the market

Ex) Microsoft, Apple]]> 2020-03-23 18:16:35 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471468345 Need gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471472215 something necessary to live 

Ex) Water, food, shelter ]]> 2020-03-23 18:18:09 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471472215 Profit Motive gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471474448 The desire for financial gain as an incentive in economic activity 

Ex) Selling lemonade to make money ]]> 2020-03-23 18:19:33 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471474448 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471477339 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet pape]]> 2020-03-23 18:21:45 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471477339 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471477387 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand ]]> 2020-03-23 18:21:48 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471477387 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471478061 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:22:20 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471478061 Shift in Demand Curve gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471478322 Is when a determinant of demand other than price changes, occurs when the demand of goods changes, but the price remained the same

Ex) Less or more income ]]> 2020-03-23 18:22:32 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471478322 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479010 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:23:00 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479010 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479303 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:23:09 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479303 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479380 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:23:12 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479380 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479602 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:23:21 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479602 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479670 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:23:25 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479670 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479768 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:23:31 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479768 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479884 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:23:37 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479884 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479990 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:23:40 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471479990 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471480097 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:23:44 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471480097 Shift in Supply Curve gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471480135 Changes in production cost and related factors can cause a change in supply, supply curves relate prices and quantities supplied assuming no other factors change 

Ex) good season for oranges results in a larger supply of orange juice]]> 2020-03-23 18:23:45 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471480135 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471480152 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:23:46 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471480152 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471481000 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:24:21 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471481000 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471481159 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:24:27 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471481159 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471481293 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:24:33 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471481293 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471481451 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:24:39 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471481451 Shortage gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471481776 a situation in which something needed cannot be obtained in sufficient amounts

Ex) Toilet paper shortage, hand sanitizer shortage ]]> 2020-03-23 18:24:51 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471481776 Competition gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471487436 A condition where different economic firms seek to obtain a share of a limited good by varying the elements of the marketing mix: price, product, promotion, and place 

Ex) Pepsi vs. Coca-Cola, Apple vs. Samsung]]> 2020-03-23 18:27:36 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471487436 Equilibrium gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471490875 Situation in which economic forces such as supply and demand are balanced

Ex) Supply and demand are equal]]> 2020-03-23 18:29:59 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471490875 Elastic Good gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471492959 Goods or services that generally have plenty of substitutes

Ex) If the price of one type of cereal increases, then buyers typically buy a different kind ]]> 2020-03-23 18:31:33 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471492959 Inelastic Good gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471495486 Goods or services that have fewer substitutes, therefore price change does not affect the quantity demanded 

Ex) Gas, food, oil ]]> 2020-03-23 18:33:12 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471495486 Factors of Production gcascenciogonzalez https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471501150 Describes the inputs used in the production o goods or services in order to make an economic profit

Ex) Land, Labor, Capital, and Entrepreneurship

]]> 2020-03-23 18:35:21 UTC https://padlet.com/gcascenciogonzalez/1lstyqlh3jm9/wish/471501150