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GED Social Studies Ch 20 - Economics #2

In economics, what is a market?
A place where you can buy fruits & veg
A place where you can buy meat and cheeses
A system in which goods, services, and capitol are exchanged
A system of bartering
In economics, what is a monopoly?
A game by Parker Brothers
Where one company controls an entire industry or becomes the only company to make a certain product
Absolute power
Free enterprise
The concept of a "balance of payments deficit" and "balance of payments surplus" is what?
Where a country buys more from foreign countries than it sells; and if a country sells more than it buys
Where a country owes other countries money from trade
Is only applicable for international trade
Is only applicable for national trade
Antitrust Laws were created to
Prevent the people from trusting big business
Protect banks and investors
Prevent the formation of monopolies
Protect the citizens
Macroeconomics does what?
Looks at international trade
Looks at the entire economy instead of individual trades
Focuses on policies like government spending and taxes
Influences inflation and deflation
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