Americans lost jobs & money an effect of a purchase Externalities Something that or use decision by one happens indirectly set of parties on others Negative the consumption or externality production of a good Ex: pollution causes a harmful effect to a third party. when an individual or Positive firm making a decision Ex: need for more externality does not receive the workers full benefit of the decision An item whose consumption is not decided by the Public goods Things that the individual consumer govt supplies but by the society as a whole, and which is financed by taxation A relationship in which When someone a trustor gives the Trusts gives someone trustee the right to else rights to their hold title to property or money or stuff assets A pricing strategy that Charging Price charges customers different people discrimination different prices for the different amounts same product or for the same service product the act of making information or data Public Telling the public readily accessible and disclosure information that available to all they need interested individuals and institutions a current medium of exchange in the form Money of coins and Coins and bills banknotes; coins and banknotes collectively a raw material or Commodity primary agricultural Something that money product that can be you bought and sold, such as copper or coffee money in the form Specie Gold or of coins rather than backed money notes currency issued by the Continental Congress Continental Money without to finance the dollars gold or silver Revolutionary War; backing had no backing in gold or silver
Americans lost jobs & money Externalities an effect of a purchase or use decision by one set of parties on others Something that happens indirectly Negative externality the consumption or production of a good causes a harmful effect to a third party. Ex: pollution Positive externality when an individual or firm making a decision does not receive the full benefit of the decision Ex: need for more workers Public goods An item whose consumption is not decided by the individual consumer but by the society as a whole, and which is financed by taxation Things that the govt supplies Trusts A relationship in which a trustor gives the trustee the right to hold title to property or assets When someone gives someone else rights to their money or stuff Price discrimination A pricing strategy that charges customers different prices for the same product or service Charging different people different amounts for the same product Public disclosure the act of making information or data readily accessible and available to all interested individuals and institutions Telling the public information that they need Money a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively Coins and bills Commodity money a raw material or primary agricultural product that can be bought and sold, such as copper or coffee Something that you Specie money in the form of coins rather than notes Gold or money Continental dollars currency issued by the Continental Congress to finance the Revolutionary War; had no backing in gold or silver Money without gold or silver backing backed