https://padlet.com/jason_guzzardo/ze52jqzu31yk Student Name, Definition, Sentence, Example or Illustration en-us 2018-01-09 16:59:24 UTC 2025-10-07 13:58:27 UTC hello@padlet.com jason_guzzardo https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/219843668 Word: Fiat Money
Definition: Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity.

Read more: Fiat Money https://www.investopedia.com/terms/f/fiatmoney.asp#ixzz53hwXAA3U
Follow us: Investopedia on Facebook

Sentence: The US economy uses Fiat Money on a daily basis

Example: US Money

]]> 2018-01-09 17:00:54 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/219843668 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220639599 2018-01-11 15:52:09 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220639599 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220639622 2018-01-11 15:52:11 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220639622 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220639635 Word- Trade Off

Definition- An alternate that we sacrifice when we make a financial decision.  

Sentence- I'm going to trade off my money to buy a car. 

Picture-]]> 2018-01-11 15:52:12 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220639635 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220640615 Word: Specialization

Definition: Concentration of the productive efforts of individuals and firms on a limited number of activities

Sentence: I specialize in business

Picture: 

]]> 2018-01-11 15:53:57 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220640615 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220640737 Word: Traditional Economy
Definition: A traditional economy is a system that relies on customs, history and time-honored beliefs.
Sentence:  In Traditional Economies,  capital and labor were the two critical factors for success.
Picture: 

]]> 2018-01-11 15:54:09 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220640737 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220641032 word: Opportunity cost

Definition: The most desirable alternative given up as result of decision

Sentence: Opportunity cost is one way to measure the cost of something. 

Example: 

]]> 2018-01-11 15:54:42 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220641032 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220641224 Word: Labor

Definition- the effort that people contribute to the production of goods and services

Sentence: Labor supplies the expertise, manpower and service needed to turn raw materials into finished products and services.

Picture:

]]> 2018-01-11 15:55:00 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220641224 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220641256 Word: Command Economy
Definition: economic system, in which the central government makes all decisions on the production and consumption of goods and services.
Sentence:  America does not have a command economy.
Example: Cuba and North Korea ]]> 2018-01-11 15:55:03 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220641256 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220641266 word:  Economic Equity

Definition:  oncept or idea of fairness in economics, particularly in regard to taxation or welfare economics.
 Ex. Shareholders

]]> 2018-01-11 15:55:04 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220641266 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220641466 Word- Capital
Definition- wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing.
Sentence- We needed to buy some capital to bake the bread.
Example- An oven is an example of capital for a bakery.]]> 2018-01-11 15:55:24 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220641466 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220642120 word: Production Possibilities Curve
Definition: A curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors.
Sentence:The production possibility curve is also known as the production possibility frontier and is a very useful tool to illustrate the economic problem of scarcity and choice.
ex:

]]> 2018-01-11 15:56:36 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220642120 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220643046 word-mixed economy
Definition- an economic system combining private and public enterprise.
Sentence- Education, though principally a public enterprise, is becoming more of a mixed economy service with the advent of religious and charter schools.
Example- Taxes

]]> 2018-01-11 15:58:03 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220643046 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220643114 word: Land
Definition: Natural resources that are used to make goods.
sentence: Certain factories will use the land to get resources.
example: forests]]> 2018-01-11 15:58:10 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220643114 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220643957 2018-01-11 15:59:37 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220643957 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220644935 Word: Productivity
Definition: Value of output produced.

Sentence - How much a person makes in a job shows the value of what a person can do. 

Example: If a person can do something very special of different, then the productivity will be of a big value.

]]> 2018-01-11 16:01:24 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220644935 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220645017 Word: Human Capital 
Definition: the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.
Sentence: Education is an investment in human  capital that pays off in terms of higher productivity 
Example: School

]]> 2018-01-11 16:01:32 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220645017 kenbon https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220645149 Word: Capital
Definition: Any human made resource to create other goods and services 
Sentence:  Products made to make more money]]> 2018-01-11 16:01:46 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220645149 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220645349 2018-01-11 16:02:07 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220645349 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220646116 Word: Marginal Benefit

Definition:  An additional benefit arising from a unit increase from a particular activity

Sentence: The sum of the marginal benefits represent the aggregate willingness to pay or aggregate demand.

Picture:

]]> 2018-01-11 16:03:43 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220646116 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220646293 2018-01-11 16:04:02 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220646293 josfun https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220646477 work: opportunity cost                           definition: the mos desirable alternative give up as the result of a decision.                                                        sentence: ]]> 2018-01-11 16:04:21 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220646477 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220646583 word: government regulation
def:a law that controls the way that a business can operate, or all of these laws considered together: Voters want some government regulation to prevent these financial disasters from happening.


]]> 2018-01-11 16:04:32 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220646583 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220646670 Definition: Land,labor and capital;the  three groups of resources that are used to make all goods and services.
sentence - Without factors of production we could not produce a product.

]]> 2018-01-11 16:04:41 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220646670 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220647283 word- The invisible hand
definition- market force that helps the demand and supply of goods in a free market to reach equilibrium automatically
sentence-

]]> 2018-01-11 16:05:54 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220647283 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220647508 2018-01-11 16:06:15 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220647508 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220648953 Word: Entrepreneurs
Definition - A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Sentence - ]]> 2018-01-11 16:08:41 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220648953 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220651666 Word: Marginal Cost
Definition: Cost of producing one more unit of a good or service.
Sentence: The company could not afford the marginal cost of producing anymore footballs, they were now looking at rasing prices so that they could afford to make more. 
Picture: 

]]> 2018-01-11 16:13:20 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220651666 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220652180 2018-01-11 16:14:09 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220652180 uribol https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220653527 Word: economics
Definition:the condition of a region or group as regards material prosperity.
Sentence: Economic- the science that deals with the production, distribution, and consumption of goods and services.

example: budgeting

]]> 2018-01-11 16:16:21 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220653527 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220653905 2018-01-11 16:16:59 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220653905 uribol https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220660089 2018-01-11 16:27:28 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220660089 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220660691 2018-01-11 16:28:33 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220660691 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220660701 2018-01-11 16:28:35 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220660701 https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220660756 2018-01-11 16:28:40 UTC https://padlet.com/jason_guzzardo/ze52jqzu31yk/wish/220660756