Economics Concepts Quiz

Appropriation = Legislative process for allocating funds to government programs Bank = An institution that takes deposits and makes loans Bank of Issue = A financial institution that prints currency backed by assets Central Bank = A 'bank for banks' that monetizes assets for circulation

Commercial Bank = Provides services to individuals and businesses Investment Bank = Facilitates the issuance and sale of securities Central Bank = Regulates the money supply and interest rates Bank of Issue = Creates currency based on financial assets

Entitlement Program = Funds that are automatically allocated Discretionary Spending = Funds requiring approval each time Tax Expenditures = Government spending hidden through tax breaks Accountability = Responsiveness of government to taxpayer scrutiny

<p>Commercial Bank = Accepts deposits and gives loans Central Bank = Monetizes assets for the economy Investment Bank = Advises on mergers and acquisitions Bank of Issue = Prints currency based on secured loans</p> Signup and view all the answers

<p>Monetization = Converts assets into currency Tax Subsidies = Reduces effective tax rates for certain entities Loans = Facilitates access to capital for borrowers Currency Creation = Increases money supply in the economy</p> Signup and view all the answers

<p>Commercial Bank = Typically provides consumer banking services Central Bank = Manages national currency and interest rates Investment Bank = Focuses primarily on raising capital Bank of Issue = Monetizes assets and circulates currency</p> Signup and view all the answers

<p>Appropriations Process = Affects transparency in government spending Tax Breaks = Can obscure true government expenditures Government Accountability = Ensures responsible use of public funds Entitlement Spending = Represents mandatory government obligations</p> Signup and view all the answers

<p>Discretionary Funding = Requires legislative approval Entitlement Spending = Automatically funded programs Financial Asset Monetization = Transforms assets into circulating currency Tax Expenditures = Can complicate tax policy fairness</p> Signup and view all the answers

<p>Discounting = The process where central banks purchase assets at less than face value Commercial Bank = A financial institution that takes deposits and makes loans Investment Bank = An institution that buys and sells securities Barrier = An impediment in society's rules that prevents economic participation</p> Signup and view all the answers

<p>Binary Productiveness = Contribution of capital assets to overall economic output Binary Property Right = Right to private ownership of capital assets Binary Growth = Increase in economies as capital ownership is broadly distributed Economic Justice = Fairness in economic systems and equitable distribution</p> Signup and view all the answers

<p>Controls money creation = Regulates the money supply in the economy Sets interest rate policy = Determines the cost of borrowing money Discounts loans for member banks = Allows banks to obtain funds at a discounted rate Monitors financial institutions = Ensures the stability of the financial system</p> Signup and view all the answers

<p>Capital Credit Corporation (CCC) = Promotes capital ownership among citizens Federal Reserve = Regulates and serves as a central bank for banks Capital Credit Insurance Corporation (CCIC) = Provides insurance against default on capital credit Commercial Bank = Facilitates commercial transactions and loans</p> Signup and view all the answers

<p>Human Labor = One factor contributing to productive output Non-Human Capital = Capital assets that contribute to production Underutilized capacity = Potential economic capacity not currently in use Market Principles = Guiding laws for acquiring capital ownership</p> Signup and view all the answers

<p>Economic Freedom = Absence of financial insecurity for the population Equitable Distribution = Fair allocation of wealth and income Just Prices = Market-determined prices that reflect fairness Special Privileges = Rights not equally available to all economic participants</p> Signup and view all the answers

<p>Capital = Non-human factors of production such as equipment Intangibles = Assets like patents and copyrights Physical Infrastructure = Tangible systems supporting production Plant and Equipment = Machinery used for creating goods</p> Signup and view all the answers

<p>Binary Economics = Views shared abundance as achievable Classical Economic Theory = Emphasizes labor's role in production Post-Scarcity Theory = Focuses on abundance rather than scarcity Market Theory = Underlying principles of just economic transactions</p> Signup and view all the answers

<p>Binary Productiveness = Focus on both human and capital contributions Binary Property Right = Emphasizes individual ownership rights Binary Growth = Encourages broader capital distribution Capital Ownership = Essential for maximizing sustainable growth</p> Signup and view all the answers

<p>Fannie Mae = Federal National Mortgage Association for home mortgages Freddie Mac = Federal Home Mortgage Corporation for housing finance Capital Credit Corporation (CCC) = Aimed at promoting broader capital ownership Federal Reserve = Established to regulate banking systems and monetary policy</p> Signup and view all the answers

<p>Savings Bank = Offers personal financial services to individuals Loan Discounting = Central bank operation of purchasing loans at a discount Securities Brokerage = Facilitates buying and selling of corporate stocks Commercial Transactions = Economic exchanges carried out by businesses</p> Signup and view all the answers

<p>Effective Ownership of Capital = Ensures equitable participation in economy Restoration of Private Property Rights = Restores fundamental economic freedoms Limited Economic State Power = Restricts power to promote equality in markets Free Market Mechanisms = Facilitates essential economic transactions</p> Signup and view all the answers

<p>Binary Economics = Suggests systematic economic growth via capital Economic Justice = Refers to principles ensuring fairness in economics Market Principles = Guidelines for fair ownership and capital distribution Scarcity Theories = Assumes limited resources are a norm within economies</p> Signup and view all the answers

<p>Sustainable Growth = Long-term increase in economic output Wealth Creation = Generation of prosperity through capital investments Economic Participation = Involvement of qualified individuals in the economy Monopolies = Market control that hinders equitable growth</p> Signup and view all the answers

<p>Fractional Reserve Policy = Banking system that allows banks to keep a fraction of deposits as reserves Imputed Rent = The estimated rental value of owned property not rented out Insurance, Capital Credit = Insurance protecting lenders against borrower default Inflation = The general increase in prices and fall in the purchasing value of money</p> Signup and view all the answers

<p>Individual Stock Ownership Plan (ISOP) = A plan originally termed for a Capital Homestead Account Future Savings = Savings set aside for anticipated future expenses or investments Primary Issuance = Newly issued shares or bonds purchased directly from the issuer Secondary Issuance = Existing shares or bonds that are being resold</p> Signup and view all the answers

<p>Demand/Pull Inflation = Caused by increased currency chasing fewer goods Cost/Push Inflation = Driven by rising production costs Ephemeralization = Technological advances reducing the necessity for resources Fiscal Policy = Government policy influencing inflation through spending</p> Signup and view all the answers

<p>Global Justice Movement = Restructuring global money for equality Just Third Way = Empowering individuals through direct capital ownership Capital Homestead Act = Promoting widespread capital ownership Industrial Homestead Act = National policy to enhance capital ownership</p> Signup and view all the answers

<p>Interest-Free Credit = Borrowing without the burden of interest Forced Savings = Savings required by policy or regulation Commercial Capital Credit Insurance = Substitute for collateral in lending Interest = Charge for using borrowed money</p> Signup and view all the answers

<p>Binary Economics = Focuses on ownership and access to capital Pure Credit = Credit created without existing savings Capitalism = Concentration of economic power in a few hands Socialism = State ownership or control of production means</p> Signup and view all the answers

<p>Just Third Way = A socio-economic system promoting economic justice Capital Homestead = Program for building widespread capital ownership Insurance against Default = Protection for lenders from unpaid debts Issuance of Securities = Process of releasing stocks and bonds to raise capital</p> Signup and view all the answers

<p>Interest = Profit share from financing a productive project Insurance, Capital Credit = Guaranteed protection for borrowers and lenders alike Issuance, Primary = Refers to the initial sale of any new security Issuance, Secondary = Trading of existing securities between buyers and sellers</p> Signup and view all the answers

<p>Demand/Pull Inflation = Causes prices to rise due to excess demand Cost/Push Inflation = Leads to increased production costs driving prices up Technological Advances = Reduce reliance on traditional resources Fiscal and Monetary Policy = Tools to control the money supply and inflation</p> Signup and view all the answers

<p>Capital Credit Reinsurance Corporation (CCRC) = Insurer of last resort for loans made under Capital Homesteading Capital Homesteading = Expansion of land ownership to include advanced technologies Capital Homestead Account (CHA) = Tax-sheltered account for capital asset accumulation similar to an IRA Capital Homestead Act = National economic policy to universalize access to capital assets</p> Signup and view all the answers

<p>Louis Kelso = Co-developer of Industrial Homestead Act Ronald Reagan = Promoter of capital ownership in the 1970s David Lawrence = Collaborator on economic policies promoting ownership Just Third Way = Concept advocating for economic empowerment</p> Signup and view all the answers

<p>Forced Savings = Mandated deposit of capital by individuals or entities Future Savings = Set aside for potential future expenditures Imputed Rent = Value of owned property not generating rental income Insurance for Capital Credit = Coverage for lenders against risks of borrower default</p> Signup and view all the answers

<p>Capital Homestead Exemption = Amount that can be accumulated without tax implications Just Third Way = Alternative economic theory rejecting traditional capitalism and socialism Charity = The moral principle of distributing according to need Capitalism = Economic system where a small number own the majority of capital assets</p> Signup and view all the answers

<p>Capital Homesteading = Encourages individual ownership of advanced technologies Democratic capitalism = Combination of political democracy and economic plutocracy Binary economists = Support limited government and universal capital ownership Mercantilism = Economic system leading to concentrated power and monopoly</p> Signup and view all the answers

<p>Credit, Capital = Funds lent for income-generating projects Credit, Consumer = Funds borrowed for consumer goods Credit, Pure = Interest-free loan for productive projects Credit, Self-Liquidating = Loans covering costs from future profits</p> Signup and view all the answers

<p>Democratizing Corporate Accountability = Increasing transparency and responsibility within corporations Non-Recourse Credit = Loans secured by assets without personal liability Interest-Free Loans = Loans made where no interest is due Capital Homesteading = Enabling capital ownership for those without savings</p> Signup and view all the answers

<p>Capital Homesteading = Analogue of 19th century land distribution programs Almsgiving = Applied virtue of charity without expecting anything in return Industry Homestead Act = Former name of the Capital Homestead Act Institutionalization of envy = Critique of socialism in Just Third Way theory</p> Signup and view all the answers

<p>Opponents of globalization = Critics of capitalism in developing nations Binary economists = Advocates for universal ownership of capital Defenders of democratic capitalism = Supports limited economic power of government Socialists = Pioneered the term 'capitalism' as a pejorative</p> Signup and view all the answers

<p>Cost = Aggregate of charges associated with production Credit = Loan of money to be repaid with interest Transaction Fees = Charges incurred during financial transactions Collateral = Assets pledged for securing a loan</p> Signup and view all the answers

<p>Pure Credit = Loans backed by income-generating assets Interest-Free Credit = Loans where no interest is charged Consumer Credit = Funding for non-self-sustaining purchases Self-Liquidating Credit = Loans that are paid back from generated profits</p> Signup and view all the answers

<p>Distribution for justice = To each according to his contribution Distribution for charity = To each according to his need Institutionalization of greed = Associated with capitalism Asset-backed money = Issued by the central bank for public investment</p> Signup and view all the answers

<p>Credit, Interest-Free = Loans for productive purposes without interest Credit, Non-Recourse = Loans insulated from personal asset seizure Credit, Capital = Funds for viable projects that generate income Credit, Consumer = Funds expended on consumer items</p> Signup and view all the answers

<p>Louis Kelso = Described a system of universal capitalism Moral philosophers = Remind that charity should not replace justice Dalton's Law = Critiques the distribution of capital and labor Central banks = Administer interest-free productive credit for CHA</p> Signup and view all the answers

<p>Capital accumulation = Helps citizens secure adequate income Tax-sheltered accounts = Encourages savings and investment Monopoly = Results from historical capitalism Dividends from assets = Income generated for capital homesteaders</p> Signup and view all the answers

<p>Credit and Democracy = Broadening shareholder base and transparency Capital Credit Insurance = Protecting lenders against default risk Leveraged ESOP = Worker benefits without personal liability Aggregate Costs = Total financial impacts of production</p> Signup and view all the answers

<p>CCRC = Spreads risk of loan defaults Political democracy = Class-divided economic system Binary growth model = Seeks to lift barriers to capital access Almsgiving = Distributes resources based on compassion</p> Signup and view all the answers

<p>Credit, Self-Liquidating = Loans covering costs out of future profits Credit, Pure = Interest-free loans for feasible projects Non-Recourse Loans = Secured by assets, protects borrower's assets Capital Credit = Loans for income-producing projects</p> Signup and view all the answers

<p>Peer-to-Peer Lending = Alternative loan sources without traditional banks Crowdfunding = Raising funds from a large number of people Microfinance = Small loans to individuals without collateral Asset-Backed Loans = Loans secured by specific assets</p> Signup and view all the answers

<p>Free markets = Often confused with capitalism Economic justice = Complementary to charity Inequality = Result of concentrated ownership in capitalism Global economy = Free trade context for capital ownership</p> Signup and view all the answers

<p>Capital Homestead Act = Enables capital accumulation for all citizens Capital Homestead Exemption = Determines tax-free accumulation limits Capital Credit Reinsurance Corporation = Provides insurance for capital loans Capital Homestead Account = Facilitates interest-free credit allocations</p> Signup and view all the answers

<p>Industrial Revolution = Increased corporate abuses by managers Information Age = Shift towards transparency in corporations Corporate Accountability = Democratizing decision-making processes Loan Default Insurance = Mitigating lender risks in loans</p> Signup and view all the answers

<p>Credit, Interest-Free = No interest for productive loans Credit, Non-Recourse = Personal assets protected from claims Consumer Debt = Funding for consumer-oriented purchases Capital Credit = Finance for developing income-generating assets</p> Signup and view all the answers

<p>Socialist view on capitalism = It represents institutionalized greed Just Third Way view = Rejects institutionalization of envy Definition of charity = As love for one's neighbor Critique of Latin capitalism = Confusion with democratic systems</p> Signup and view all the answers

<p>Democratic capitalism = Leads to instability and conflict Traditional socialism = Associated with envy and lack of ownership Mercantilism = Fosters concentrated power dynamics Universal capitalism = Seeks to distribute capital broadly</p> Signup and view all the answers

<p>Capital Homesteading = Facilitating capital ownership via loans Credit, Pure = Asset-backed funding for projects Workforce ESOP = Employee ownership without personal debt risks Productive Credit = Loans aimed at creating surplus profits</p> Signup and view all the answers

<p>Aggregate Costs = Tangible and intangible production charges Collateral Loans = Secured financing using specific assets Self-Liquidating Credit = Paid back through asset profitability Consumer Credit = Borrowed funds for non-investment goods</p> Signup and view all the answers

<p>Greed = Core to capitalism's critique Charitable giving = Fostered by compassion Need-based distribution = Reflects charity's intent Capital asset ownership = Empowers individual financial security</p> Signup and view all the answers

<p>Adam Smith = Not the originator of the term capitalism Louis Kelso = Introduced universal capitalism concept Just Third Way advocates = Critique both capitalism and socialism Moral philosophers = Emphasize charity as a virtue</p> Signup and view all the answers

<p>Business Loans = Pure credit for new capital formation Interest-Charging Loans = Conventional loans based on past savings Credit Standards = Guidelines for financial lending practices Loan Default Risks = Potential loss to lenders without collateral</p> Signup and view all the answers

<p>Credit, Non-Recourse = Protection against personal liability Credit, Self-Liquidating = Subject to asset-generated income Pure Credit = Based on future profits without interest Consumer Debt = Focused on non-asset generating expenses</p> Signup and view all the answers

<p>Transaction Fees = Costs for handling financial transactions Future Savings = Generated profits that repay loans Secured Loans = Loans requiring collateral for protection Democratic Processes = Community involvement in corporate governance</p> Signup and view all the answers

<p>Discount Rate = Service fee charged by the Fed to member banks Dividend = Profits paid to shareholders of a corporation Entitlement = Automatic allocation of government funds Feasibility = Quality of a project to generate future savings</p> Signup and view all the answers

<p>Distributism = Economic system aimed at distributing land ownership Economic Justice = Focus on fair distribution of economic benefits Ephemeralization = Doing more with less through resource efficiency Economic Personalism = Focus on individual dignity in economic contexts</p> Signup and view all the answers

<p>Employee Stock Ownership Plan (ESOP) = Allows group borrowings to acquire shares in a company Employee Stock Accumulation Plan (ESAP) = Enables workers to accumulate shares but limits voting rights Capital Homesteading = Policies encouraging ownership through credit and tax incentives Leveraged ESOP = Acquires shares through borrowed funds on behalf of employees</p> Signup and view all the answers

<p>Duty = Legally enforceable obligation to act or refrain from acting Federal Reserve Act of 1913 = Legislation establishing the central bank of the U.S. Federal Funds Rate = Interest rate for overnight loans between banks Distributive Justice = Focus on fair distribution of resources and rights</p> Signup and view all the answers

<p>G. K. Chesterton = Proposed distributism as an economic system R. Buckminster Fuller = Coined the term 'ephemeralization' Hilaire Belloc = Advocated for economic systems focusing on small holdings Board of Governors = Oversees the Federal Reserve System and its operations</p> Signup and view all the answers

<p>Discounting = Lends money at less than face value Rediscounting = Creates money for private sector growth Dividends approval = Must be proposed by a Board of Directors Voting on shares = A right often withheld from ESAP participants</p> Signup and view all the answers

<p>Capital Credit Insurers = Organizations that provide insurance to cover the risk of default on capital credit loans. CSOP = A plan linking regular customers to ownership rights based on their patronage. Aggregate Demand = The total demand for goods and services in an economy. Deflation = A decrease in the general price level due to reduced currency availability.</p> Signup and view all the answers

<p>Economic Justice = Related to equitable resource distribution Employee Ownership = Fosters worker investment and participation Capital Projects = Investment aimed at generating future profits Interest Rates = Determined primarily by the Federal Reserve</p> Signup and view all the answers

<p>Effective Demand = Income available for consumption rather than reinvestment. Derived Demand = Demand for capital goods based on the primary demand for consumer goods. Aggregate Demand = The overall sum of all demand within a particular economy. Secondary Demand = Demand that relies on a primary source of need or want.</p> Signup and view all the answers

<p>Shareholder Rights = Entitlement to receive profits from investments Voting Shares = Right to influence corporate decisions Corporate Growth Funding = Often relies on reinvested dividends Debt Financing = Acquisition of capital repayable with profits</p> Signup and view all the answers

<p>Economic Dilution = A reduction in share value due to non-productive issuance of new shares. Political Dilution = The diffusion of economic power without diminishing existing shareholders' rights. Share Dilution = The effect on existing shareholders when new shares are issued. Asset Dilution = Erosion of property rights when new shares are introduced without value increase.</p> Signup and view all the answers

<p>Discount Window = The central bank mechanism for discounting qualified loans. Discount Rate = The percentage reduction applied by the central bank on cash or deposits. Demand Deposit = Bank deposits available for withdrawal through checks on demand. Demand = The desire to possess goods or services in a market economy.</p> Signup and view all the answers

<p>Federal Reserve System = Central bank system of the U.S. Open Market Operations = Manipulates money supply through debt purchases Regional Federal Reserve Banks = Serve as research centers for local economy Board of Governors = Establishes monetary policy in the U.S.</p> Signup and view all the answers

<p>Classical Economics = Ignores modern corporate implications Neoclassical Economics = Focuses on efficiency over equity Keynesian Economics = May overlook wealth distribution Monetarism = Criticized for not addressing employment directly</p> Signup and view all the answers

<p>Interest-free Lending = Loans provided by the central bank at a nominal service charge. Collateralization = The use of newly issued shares and assets to secure a loan. Currency = Standardized tokens of value used in economic transactions. Patronage = The support provided by customers which ties them to ownership rights.</p> Signup and view all the answers

<p>Duty = Results from a right held by another Entitlement Programs = Automatic and require action to alter Dividends = Require Board approval for distribution Economic Rights = Concerns over equitable ownership distribution</p> Signup and view all the answers

<p>New Money = Interest-free funding generated for ownership-expanding projects. Old Money = Funds coming from past savings subject to market interest rates. Service Charge = The cost associated with creating new money through central banking. Risk Premium = Additional fees added by local lenders for capital loans.</p> Signup and view all the answers

<p>Capital Homesteading = Promotes ownership through credit mechanisms Employee Stock Ownership Plans = Encourages collective worker investment Distributive Justice = Ensuring fairness in resource distribution Ephemeralization = Aims for efficiency in resource use</p> Signup and view all the answers

<p>Backed Currency = Money supported by tangible assets like gold or silver. Nonproductive Credit = Loans that do not stimulate economic growth. Inflation = The increase in the general price level due to excess currency. Market Yields = Expected returns on savings that dictate interest rates.</p> Signup and view all the answers

<p>Central Bank = The primary banking authority responsible for monetary policy. Member Banks = Financial institutions eligible to utilize the discount window. Farm Credit System = Lenders that provide funding to agricultural projects. Eligible Paper = Qualified loans that can be discounted by the central bank.</p> Signup and view all the answers

<p>Leverage in ESOP = Enables borrowing to acquire company shares Dividends reinvestment = Shareholder solicitation for funding Discount loans = Provide cash less than loan face value Federal Reserve's role = Maintaining stable dollar value</p> Signup and view all the answers

<p>Dividends payout = A shareholder right approved by directors Economic Personalism = Focuses on individual's role in economics Small Holdings = Core of distributism's aim Interest Rate Management = Federal Reserve monetary policy tool</p> Signup and view all the answers

<p>Checking Account = A demand deposit used for everyday transactions. Savings Account = Interest-bearing account typically used for saving funds. Time Deposit = Funds deposited for a fixed term with penalties for early withdrawal. Demand Deposit = Money available for immediate withdrawal upon request.</p> Signup and view all the answers

<p>Ownership Expansion = A principle that encourages broader ownership of capital. Feasible Projects = Investments made in businesses expected to generate growth. Share Allocation = The process of distributing ownership shares based on usage. Tax-Deductible Dividends = Dividends paid on shares that can reduce taxable income.</p> Signup and view all the answers

<p>Default = Failure to repay a loan according to agreed terms. Credit Creation = The process of generating new money or loans. Market Transactions = Activities where goods and services are exchanged. Currency Supply = The total amount of money available for economic activities.</p> Signup and view all the answers

<p>Monetizing Loans = The process of converting loans into money. Interest Rate = The cost of borrowing money expressed in percentage terms. Service Fee = Additional cost added for central banking services. Regulatory Costs = Expenses associated with monitoring and overseeing financial institutions.</p> Signup and view all the answers

<p>Consumer Demand = The want for products by individuals or households. Business Demand = The need for goods and services by companies. Expected Demand = The forecasted consumption based on market trends. Market Demand = The total demand for a product at varying prices.</p> Signup and view all the answers

<p>Customer Stock Ownership Plan (CSOP) = A mechanism for customers to gain equity in utilities. Capital Credit = Financial resources focused on expanding ownership. Public Utilities Financing = Funding mechanisms for essential services through user investment. Mass Transit Systems Ownership = Involves customers becoming stakeholders through usage.</p> Signup and view all the answers

<p>Interest-free Credit Mechanism = A system designed for ownership-expanding loans. Service Charge on New Money = A minimal fee related to the process of creating capital. Collateralized Loans = Loans secured against assets to mitigate risk. Premiums for Insurers = Fees paid to spread the risk of loan defaults.</p> Signup and view all the answers

<p>Commutative Justice = Deals with exchanges of equal or equivalent value between individuals. Distributive Justice = Focuses on distribution according to contribution. Participative Justice = Right to participate fully in institutions of the common good. Economic Justice = Guides the creation and maintenance of economic institutions.</p> Signup and view all the answers

<p>Commutative Justice = Requires exact measurement for transactions. Distributive Justice = Relates to proportional shares based on contribution. Participative Justice = Ensures access to means of participation. Economic Justice = Aims to allow full individual potential realization.</p> Signup and view all the answers

<p>Aristotle = Defined distributive justice in his Ethics. Louis Kelso = Contributed to the principles of participative and distributive justice. Mortimer Adler = Co-authored The Capitalist Manifesto. Classical Moral Philosophy = Discusses virtues including justice, fortitude, and prudence.</p> Signup and view all the answers

<p>Justice as a moral virtue = Disposes respect for others' rights. Justice as a set of principles = Guides in judging right from wrong. Justice, Economic = Subset of social justice concerning economic institutions. Justice, Individual = Moral principles guiding person-to-person interactions.</p> Signup and view all the answers

<p>Social Charity = The virtue that guides behavior towards institutions and social justice Citizens Land Bank = A mechanism for citizens to have ownership interest in local real estate Collateral = Existing wealth pledged as security for a loan Common Good = The network of institutions that enables individual rights and the development of society</p> Signup and view all the answers

<p>Participative Justice = Input principle ensuring full access. Distributive Justice = Out-take principle linking contribution and outcome. Social Justice = Feedback principle for economic system correction. Economic Justice = Guides the creation of moral economic institutions.</p> Signup and view all the answers

<p>Collective = An abstraction of activities of a group acting in concert Consumption Income = Income spent on consumer goods instead of saving Corporation = A legal entity limiting liability and claims on personal assets Collectivism = Ownership by the group rather than personal ownership stakes</p> Signup and view all the answers

<p>Citizens Land Cooperative = For-profit, managed real estate planning and development Community Investment Corporation = Mechanism related to local real estate ownership Community Development Corporation = Nonprofit entity without direct ownership for citizens Citizens Land Development Cooperative = Related to expanded ownership of land among citizens</p> Signup and view all the answers

<p>Greed = Institutionalized by capitalism. Envy = Institutionalized by socialism. Self-interest = Seen as a virtue aligned with the common good. Justice = Believed to institutionalize fairness.</p> Signup and view all the answers

<p>Chicago Plan = Proposal for 100% reserve requirement for bank loans Collateral = Wealth pledged as security for loan repayment Consumption Income = Spent income on goods and services rather than savings Collectivism = Denial of personal ownership in favor of group ownership</p> Signup and view all the answers

<p>Distributive Justice = Sanctity of property and contracts. Participative Justice = Right to equitable participation. Commutative Justice = Requires exact value in exchanges. Economic Justice = Moral guidance for economic subsistence.</p> Signup and view all the answers

<p>Justice, Individual = Guides interpersonal moral behavior. Justice, Commutative = Focuses on equal value transactions. Justice, Distributive = Involves proportional sharing. Justice, Social = Relates to group dynamics and institutions.</p> Signup and view all the answers

<p>Moses Maimonides = Proposed self-reliance as the highest form of charity Rev. William Ferree = Described the relationship between individuals and the common good Social Charity = A form of virtue guiding social justice actions Collectivism = Explained ownership rights in socialist theory</p> Signup and view all the answers

<p>Common Good = Framework allowing individuals to fulfill their potential Corporate Structure = Facilitates access to financial markets and limits liability Social Charity = Inspires love for institutions and pursuit of social justice Collective Action = Abstract and does not recognize individuals in the group</p> Signup and view all the answers

<p>Equity = Fair treatment in the distribution of resources. Fairness = Impartial and just treatment of each individual. Dignity = The basis for respect in relationships. Balance = Equality in value and responsibility.</p> Signup and view all the answers

<p>Consumption Income = Income actively spent rather than saved Collectivism = Ownership structure focused on group rights Corporation = Legal entity designed to limit liability Citizens Land Bank = Mechanism for citizen ownership of land</p> Signup and view all the answers

<p>Private Property = Foundation for distributive justice. Economic Harmony = Exists when both participative and distributive justice function. Marketplace = The means for determining just prices and wages. Contracts = Integral to the sanctity of distributive justice.</p> Signup and view all the answers

<p>Justice, Economic = Encompasses the moral principles guiding economic institutions. Justice, Participative = A principle focusing on the inclusion of all individuals. Justice, Commutative = Strictly values equality in exchanges. Justice, Distributive = Emphasizes proportional rewards based on contribution.</p> Signup and view all the answers

<p>Citizens Land Development Cooperative = Similar to the Citizens Land Bank Chicago Plan = Historical proposal regarding banking reserves Collateral = Security for loan agreements Community Development Corporation = Nonprofit without direct citizen ownership</p> Signup and view all the answers

<p>Plutocracy = Economic power concentrated in the hands of a few. Monopoly = Control of a market by a single entity. Greed = Excessive desire for more than one needs. Envy = Desire for what others have, with discontent.</p> Signup and view all the answers

<p>Common Good = Conditions for rights' exercise compatible with justice Social Charity = Moral habit addressing institutions Collective Ownership = Rejects individual ownership for group ownership Consumption Income = Focus on individual's expenditure patterns</p> Signup and view all the answers

<p>Moses Maimonides = Economic self-reliance as charity Rev. William Ferree = Social institutions and personal care for the common good Citizens Land Bank = Empowerment through land ownership Collectivism = Perspective on socialist ownership rights</p> Signup and view all the answers

<p>Participative Justice = Input within economic systems. Distributive Justice = Relates to fair outcomes based on contribution. Economic Justice = Basis for societal economic institutions. Social Justice = Involves collective responsibility for corrections.</p> Signup and view all the answers

<p>Social Justice = Efforts to rectify ineffective laws and institutions Community Investment Corporation = Related to local real estate and communal profits Individual Charity = Charitable acts directed towards individuals Collective Action = Group activities towards a common goal</p> Signup and view all the answers

<p>Collectivism = Denial of personal ownership rights Consumption Income = Expenditure on consumer goods over savings Corporation = Legal structuring to shield personal assets Collateral = Wealth securing a loan obligation</p> Signup and view all the answers

<p>Social Charity = Focuses on improvement of institutions Common Good = Essential for individual rights and society's well-being Collateral = Serves as a guarantee for loan repayment Consumption Income = Income used for immediate personal consumption</p> Signup and view all the answers

<p>Citizens Land Cooperative = Ownership interest allowing profit from land values Corporation = A legal entity for business operations Community Development Corporation = Nonprofit focused on community benefit Collective = An abstraction summarizing group activity without individual recognition</p> Signup and view all the answers

<p>Maimonides' Charity = Empowerment through self-reliance Ferree's Common Good = Influence of institutions on individual lives Social Charity vs. Organized Charity = Difference between institutional and individual focus Collective Ownership = Implications for personal stakes in production</p> Signup and view all the answers

<p>Economic Personalism = An economic system emphasizing individual dignity and empowerment Just Third Way = A principle advocating equal access to capital ownership Participative Justice = Involves active involvement of individuals in economic decisions Social Justice = Fair distribution of resources and opportunities among all members</p> Signup and view all the answers

<p>Power = The ability to effect change or influence others Economic Power = Control over labor and resources for production Legal Power = The capacity to alter legal relations through action or inaction Property Rights = Entitlements that include benefits from owned assets</p> Signup and view all the answers

<p>Distributive Justice = Ensures fair distribution of economic benefits Monopolistic Capitalism = Concentration of economic power in a few hands Collectivist Socialism = State control of economic resources Anti-monopolistic Free Market = Promotes open competition and prevents power concentration</p> Signup and view all the answers

<p>Labor = Manual, intellectual, or managerial efforts in production Capital = Assets like land, machinery, and patents for production Consumption Income = Income gained from engaging in marketable services Marketable Goods = Products available for exchange in the economy</p> Signup and view all the answers

<p>Human Rights = Inherent rights recognized within each individual Legal Rights = Rights granted and protected under the law Property Rights = Rights related to ownership and use of resources Economic Rights = Rights concerning participation in economic activities</p> Signup and view all the answers

<p>Just Price = Transaction value agreed upon without coercion Prime Rate = Interest rate charged to banks' best customers Productive Credit = Financing aimed at generating economic production Procreative Credit = Financing targeting potential economic growth through new ventures</p> Signup and view all the answers

<p>Diffusing Power = Ensuring equal access to resources and opportunities Concentration of Power = Leads to potential corruption and abuse Universal Capital Ownership = Access for all to means of production Checks on Power = Systems to prevent abuses in political and economic realms</p> Signup and view all the answers

<p>Scarcity = Limitation of resources available to meet needs Post Scarcity = A state where resources are abundant Binary Economics = Economic theory focusing on capital ownership distribution Economic Empowerment = Enabling individuals to control their economic fate</p> Signup and view all the answers

<p>Price = Agreed transaction value between buyer and seller Market Economy = Economic system based on supply and demand Centrally Planned Economy = Economic system where prices are government-regulated Free Market = Economic system promoting voluntary exchanges without restrictions</p> Signup and view all the answers

<p>Participative Justice = Involves individuals in equitable economic processes Distributive Justice = Focus on fair distribution of economic goods Retributive Justice = Addressing the needs for correction and restitution Restorative Justice = Healing relationships through community-focused measures</p> Signup and view all the answers

<p>Privilege = Legal freedom allowing certain actions by one individual over others Absence of Right = Condition of others lacking ability to counter privilege Legal Freedom = Rights granted that allow actions or inactions Social Privilege = Advantages held by certain groups in a society over others</p> Signup and view all the answers

<p>Money, Old = Pool of past accumulations for new capital formation Money, New = Newly created money independent of past accumulations Open Market Committee = Governance of the U.S. money supply Negative Income Tax = Subsidizing basic subsistence incomes through tax redistribution</p> Signup and view all the answers

<p>Capitalism = Private ownership and free market dynamics Socialism = State or collective ownership of the means of production Personalism = Focus on human dignity and individual empowerment Multinational Capitalism = Operating across multiple nations with global trade</p> Signup and view all the answers

<p>Paper, Agricultural = Secured by agricultural assets, value of crops Paper, Commercial = Unsecured financial instruments short-term liabilities Paper, Industrial = Secured by industrial assets and inventory Non-Recourse Credit = Loan not secured by collateral from the borrower</p> Signup and view all the answers

<p>Monetization = Process of creating media of exchange Paradigm = Coherent theory or perspective of understanding Personalism = Focus on the dignity and rights of each person Person = Legal and philosophical definition of a human being</p> Signup and view all the answers

<p>Labor = Contributes effort and skills to production Capital Assets = Generates potential income through ownership Consumer Demand = Drives market prices and production decisions Market Competition = Influences quality and innovation in products</p> Signup and view all the answers

<p>Money as a social good = Artifact to facilitate economic transactions Credit, Non-Recourse = Allows borrower to default without losing assets Feasibility = Basis for converting contracts into money Capital democratization = Citizen ownership and governance in banking</p> Signup and view all the answers

<p>New Money = Backed by future savings from projected profits Old Money = Based on historical accumulations Open Market Committee = Unit governing U.S. money supply operations Negative Income Tax = Redistribution of income for subsistence support</p> Signup and view all the answers

<p>Local banks = Monetize citizen’s bill of exchange Central banks = Oversee creation of new money Treasury securities = Assets bought and sold to manage money supply Citizen-owned banks = Facilitate citizen-directed monetary policy</p> Signup and view all the answers

<p>Medium of exchange = Tool to settle debts Store of value = Preservation of value over time Standard of value = Measurement for economic worth Common measure of value = Uniform comparison of goods and services</p> Signup and view all the answers

<p>Buying Treasury securities = Increases money supply Selling Treasury securities = Decreases money supply Issuing unsecured paper = Increases short-term liabilities Monetizing bills = Converts contracts into currency</p> Signup and view all the answers

<p>Savings, Past = Accumulated wealth for investment Capital credit = Credit based on future profits Personhood in law = Rights and duties attributed to entities Artificial persons = Legal fictions like corporations</p> Signup and view all the answers

<p>Negative Income Tax = Milton Friedman Capital Homesteading = Binary economists Open Market operations = Federal Reserve System Monetization practices = Commercial banks</p> Signup and view all the answers

<p>Quantity Theory of Money = Evaluates money supply against price levels Binary economics = Promotes equitable capital ownership Keynesian economics = Advocates for increased government spending Monetarism = Focus on controlling money supply for stability</p> Signup and view all the answers

<p>Invisible sector = Monetary system's impact beyond visible economics Visible sector = Tangible economic goods and services Economic input = Resources utilized in production Economic outtake = Value derived from economic activities</p> Signup and view all the answers

<p>Non-Recourse Credit = Debt without collateral risk to borrower Pure credit = Funding without interest costs Asset-backed money = Money linked to physical assets Capital democratization = Expansion of ownership rights in capital</p> Signup and view all the answers

<p>Medium of exchange = Facilitates trade and sales Commercial paper = Short-term corporate debt instruments Agricultural paper = Financing for crop production Industrial paper = Financing related to manufacturing assets</p> Signup and view all the answers

<p>Economic rights = Entitlements pertaining to economic welfare Social justice = Redress of inequality in rights exercise Market-determined interest rate = Rate set by supply and demand for loans Credit extension = Provision of financing based on certain criteria</p> Signup and view all the answers

<p>Participative Justice = Requirement for money credit in society Social Justice = Focus on collective good over individual good Justice-Based Leadership = Aligning values and actions with justice principles Justice-Based Management = Creating sustainable ownership cultures</p> Signup and view all the answers

<p>Servant Leadership = Trust, appreciation, and empowerment Transformational Leadership = Role modeling and inspiration Principle-Centered Leadership = Personal character and commitment to principles Justice-Based Leadership = Alignment of individual and group values</p> Signup and view all the answers

<p>Labor = Human factor of production Economic Justice = Distribution based on participation Capital Credit = Universal access to social goods Marketable Goods = Products produced for sale in the market</p> Signup and view all the answers

<p>Common Good = Aim for macro-level benefit Personal Responsibility = Accountability for societal improvement Organized Human Interactions = Framework for social collaboration Moral Balance = Restoration of justice within institutions</p> Signup and view all the answers

<p>Value = Quality divided by price Delivery of Value = Empowerment in the enterprise Long-term Corporate Profitability = Sustainability in business operations Quality = Standard of goods or services produced</p> Signup and view all the answers

<p>Louis O. Kelso = Identified the input principle Mortimer J. Adler = Defined participative justice George Mason = Advocated for property rights Social Justice Theorists = Promoted the common good concept</p> Signup and view all the answers

<p>Charisma = Leader as a role model Inspirational Motivation = Encouraging others to achieve Intellectual Stimulation = Promoting innovative thinking Consideration of the Individual = Valuing individual contributions</p> Signup and view all the answers

<p>Binary Economics = Human productive capability improvements Participative Justice = Access to economic participation Social Justice = Equitable access to social goods Justice-Based Management = Framework for efficiency and empowerment</p> Signup and view all the answers

<p>Justice = Virtue for societal balance Human Capital = Misnomer for labor improvements Economic Power = Direct ownership distribution Social Tools = Resources for societal participation</p> Signup and view all the answers

<p>Servant Leadership = Focus on others' growth Transformational Leadership = Inspiration through example Principle-Centered Leadership = Foundation in natural law Justice-Based Leadership = Integration of shared values</p> Signup and view all the answers

<p>Economic Institutions = Facilitating economic contribution Legal Systems = Supporting access to capital Banking Systems = Managing capital credit distribution Organizational Structures = Empowering every group member</p> Signup and view all the answers

<p>V=Q/P = Value increases with quality and constant price Stakeholder Empowerment = Involving every member of the enterprise Distribution of Wealth = Economic power equality Sustainable Ownership = Long-term profitability through shared investment</p> Signup and view all the answers

<p>Personal Responsibility = Encouraging contribution to society Organized Interactions = Creating effective institutions Restoration of Moral Balance = Correcting institutional flaws Access to Social Goods = Ensuring equality in participation</p> Signup and view all the answers

<p>Charisma = Idealized influence Empowerment = Encouraging personal development Trust = Building relationships Appreciation = Acknowledging contributions</p> Signup and view all the answers

<p>Labor Participation = Valuing human contributions Capital Ownership = Eliminating economic barriers Social Credit = Universal access to financial tools Distribution Justice = Based on individual contributions</p> Signup and view all the answers

<p>Profits = Financial gain after all expenses are paid Property = Rights, powers, and privileges recognized by law Quantity Theory of Money = Relationship between money supply and price level Reserve Policy, 100% = Requirement to maintain dollar-for-dollar asset support</p> Signup and view all the answers

<p>Propensity to Consume, Average = Proportion of disposable income spent by the average individual Propensity to Consume, Marginal = Change in consumption relative to change in disposable income Marginal propensity of rich = Tends to invest remaining income rather than consume Marginal propensity of poor = Higher consumption in response to increased income</p> Signup and view all the answers

<p>M = Total money in circulation V = Velocity of money in use P = Average price level Q = Number of income transactions</p> Signup and view all the answers

<p>Currency Principle = Change in money supply affects price level directly Banking Principle = Money supply linked to price level without reciprocity Rediscounting = Central bank discounts banks' financial paper Pure Credit = No direct definitions provided</p> Signup and view all the answers

<p>Possessing = Having physical control over an object Excluding others = Preventing others from using one's property Transferring = Changing ownership rights of an asset Using = Utilizing an object for personal benefit</p> Signup and view all the answers

<p>Average Propensity = Overall spending behavior of a household Marginal Propensity = Incremental consumption changes with income adjustments Velocity of Money = Impact on the rate of spending activity Disposable Income = Amount available for consumption after taxes</p> Signup and view all the answers

<p>Labor Costs = Expense incurred by employing workers Expense = Total outlay needed for business operation Capital Costs = Investment related costs for business Marketable Goods = Products intended for sale that generate revenue</p> Signup and view all the answers

<p>Injury to others = Using property in harmful manners is restricted General welfare = Property usage must align with public interest Legal Recognition = Enforcement of property rights is based on established law Rights of enjoyment = Owners can benefit from their assets personally</p> Signup and view all the answers

<p>Keynesian Economics = Focus on demand-side factors Monetarism = Emphasis on controlling money supply Austrian Economics = Importance of individual choices in markets Smithian Economics = Basis of classical economic thought</p> Signup and view all the answers

<p>Discounting = Selling loans to the central bank for liquid capital Lending = Providing funds with repayment expectations Investment = Allocating capital for potential returns Distribution = Spreading goods to various market segments</p> Signup and view all the answers

<p>M x V = P x Q = Basic equation of money theory Velocity Definition = NNP divided by total money in circulation Price Level = Affected by money supply changes Number of Transactions = Determined by economic activities</p> Signup and view all the answers

<p>Pure Credit Formation = Creates new capital without direct collateral Rediscount Functions = Facilitates borrowing for businesses Central Bank Mechanics = Emergency liquidity for financial institutions 100% Reserve Requirement = Guarantees asset backing for deposited funds</p> Signup and view all the answers

<p>Excess production = Surplus goods needing consumption Market clears = Equilibrium between supply and demand Income distribution = Allocation of wealth among societal members Transaction costs = Expenses associated with buying or selling goods</p> Signup and view all the answers

<p>Closed System Financing = Limited capital distribution primarily to wealthy Capital Credit Insurance = Reduces risk for investors Income-producing Assets = Wealth generation from investments High Propensity to Consume = Greater relevance for lower-income groups</p> Signup and view all the answers

<p>Louis Kelso = Advocated for capital access to the poor John Maynard Keynes = Promoted demand-driven economic interventions Friedrich Hayek = Critiqued government intervention in markets Milton Friedman = Championed free-market monetary policies</p> Signup and view all the answers

<p>M1 = Currency, travelers checks, demand deposits, checkable deposits M2 = M1 plus savings deposits, small-denomination time deposits M3 = M2 plus institutional money market funds and large-denomination time deposits Seasonally adjusted M2 = Sum of savings deposits, small-denomination time deposits, and retail money funds</p> Signup and view all the answers

<p>Principle of Limitation = Prevents harmful concentrations of capital ownership Principle of Harmony = Recognizes the duty for citizens to ensure economic justice Mercantilism = Accumulation of wealth through monopolistic policies and government support Maslow’s Hierarchy of Needs = Categorizes human needs from survival to self-actualization</p> Signup and view all the answers

<p>Primary Market = Purchasing financial instruments from original issuers Secondary Market = Purchasing financial instruments from other than original issuers Market Glut = Production that cannot be cleared at market prices Institutional Money Market Funds = Invests in short-term debt securities for large investors</p> Signup and view all the answers

<p>Legal Tender = Currency accepted as payment for debts Economic Rights = Entitlements related to participation in production Depository Institutions = Financial entities holding deposits for customers Participation in Production = Engagement of individuals in the creation of goods</p> Signup and view all the answers

<p>Balances in institutional money market mutual funds = Funds managed for large investors in short-term securities Large-denomination time deposits = Time deposits of $100,000 or more Repurchase agreement liabilities = Short-term borrowings using collateral Eurodollars = Dollar-denominated deposits held in foreign banks</p> Signup and view all the answers

<p>Savings, Forced = Purchasing productive assets by reducing consumer spending Savings, Past = Existing pools of savings from past consumption reductions Savings, Future = Profits used to repay loans financed by future income Savings, Present = Current accumulation of cash without reduction of consumption</p> Signup and view all the answers

<p>Private Property Economy = Capital ownership allows for feedback on justice Labor Ownership Economy = Everyone owns their labor, no chattel slavery Distributive Justice = Fair allocation of resources based on contribution Need-Based Distribution = Resources distributed according to individual needs</p> Signup and view all the answers

<p>Scarcity, Economic = The limitation of resources to a single use at a time Scarcity, Effective = Insufficiency perceived as a constraint on growth Scarcity, Post = Transformations helping to overcome effective scarcity Scarcity, Absolute = A hypothetical situation where resources are completely insufficient</p> Signup and view all the answers

<p>Currency = Physical cash in circulation Demand Deposits = Funds available on demand for withdrawal Travelers Checks = Prepaid checks used for secure transactions while traveling Automatic Transfer Service Accounts = Accounts that automatically transfer funds between accounts</p> Signup and view all the answers

<p>Reserve Policy, Fractional = A percentage of deposits must be held as cash Reserve Policy, 100% = All deposits must be backed by equivalent reserves Bank Reserves = Funds available to cover demand for cash deposits Vault Cash = Physical cash stored within the bank</p> Signup and view all the answers

<p>Principle of Limitation = Mitigates excessive capital concentration Principle of Social Justice = Ensures fair restructuring of economic institutions Participative Justice = Equitable involvement in economic production Distributive Justice = Fair compensation for contributions made by individuals</p> Signup and view all the answers

<p>Risk Premium = Additional charge to mitigate anticipated repayment risks Systematic Risk = Market risks affecting all investments Unsystematic Risk = Risks unique to a specific asset or company Liquidity Risk = Risk associated with the inability to quickly convert assets to cash</p> Signup and view all the answers

<p>Securities Exchange = Secondary market for trading equities and bonds Federal Reserve Float = Temporary funds held by the Federal Reserve Cash Items in Collection = Funds being processed but not yet available Negotiable Order of Withdrawal = Demand deposits that allow checks to be written</p> Signup and view all the answers

<p>Production and Consumption Balance = Economic values equal aggregate incomes Supply Generates Demand = Production leads to its own consumption Market Forces = Competition that shapes economic dynamics Demand Insufficiency = Anticipated failure of collective consumer purchasing power</p> Signup and view all the answers

<p>Savings Deposits = Accounts with interest-bearing potential Small-Denomination Time Deposits = Deposits under $100,000 with fixed maturity Retail Money Market Mutual Funds = Funds that invest in short-term securities for individuals Large-Denomination Time Deposits = Deposits of $100,000 or more, often non-negotiable</p> Signup and view all the answers

<p>Mercantilism = Promotes monopolies and unequal wealth distribution Keynesian Economics = Criticized for overlooking long-term solutions Supply-side Economics = Focused on benefits for the wealthy Monetarism = Overemphasis on control of money supply</p> Signup and view all the answers

<p>Binary Economics = Restores equilibrium in market systems Ephemeralization = Doing more with less through technology Malthusian Paradigm = Insufficiency is considered an inevitable constraint Collective Ownership Stake = Consumers benefit from profit-sharing in enterprises</p> Signup and view all the answers

<p>Loan Principal = The original sum borrowed without interest Obligation = A commitment to fulfill a financial duty Deposits = Funds lodged in a bank account Collateral = Assets pledged to secure a loan</p> Signup and view all the answers

<p>Travelers Checks = Guaranteed by issuing bank, used for international travel Cashier’s Checks = Issued by a bank and guaranteed by bank’s funds Personal Checks = Drawn on the funds of the individual signatory Business Checks = Written by a business for business expenses</p> Signup and view all the answers

<p>Forced Savings = Accrual through reduced consumer expenditure Future Savings = Capital financed by prospective income streams Past Savings = Resources set aside based on historical consumption patterns Spontaneous Savings = Immediate accumulation without strategic planning</p> Signup and view all the answers

<p>Participative Rights = Rights guaranteeing participation in production processes Distributive Rights = Rights related to fair distribution of economic resources Property Rights = Legal rights to own and manage assets Labor Rights = Entitlements of workers in the workplace</p> Signup and view all the answers

<p>Demand Deposits = Funds readily available for withdrawal Cash Equivalents = Government bonds that are liquid assets Vault Cash = Physical cash held on bank premises Reserve Requirements = Regulatory mandates regarding minimum reserves</p> Signup and view all the answers

<p>Market Price = Price at which goods are traded in a market Supply Glut = Excess production available in the market Demand Surge = Rapid increase in the desire for a product Clearing Price = Equilibrium price where supply matches demand</p> Signup and view all the answers

<p>Legal Tender = Requirement for debt payment accepted by creditors Credit Rights = Entitlements related to borrowing and lending Equity Ownership = Rights associated with owning shares in a company Monetary Policy = Government actions regulating money supply and inflation</p> Signup and view all the answers

<p>Effective Scarcity = Commonly perceived insufficiency impacting growth Economic Scarcity = Choices related to single-use resources Perceived Scarcity = Public belief in limited availability of resources Relative Scarcity = Scarcity defined by comparative availability</p> Signup and view all the answers

<p>Redistribution of Wealth = Sharing profits from ownership with all consumers Technological Change = Innovation that allows for overcoming scarcity Market Regulation = Controls to maintain fairness in economic practices Social Responsibility = Businesses acting in consideration of societal impacts</p> Signup and view all the answers

<p>Central Bank Reserves = Money held to meet withdrawal requests Cash on Hand = Physical cash within a commercial bank Asset-Backed Loans = Loans secured by collateral that generates income Aggregate Income = Total earnings from produced goods and services</p> Signup and view all the answers

<p>Jean-Baptiste Say = Proponent of Say's Law in economic practice Thomas Malthus = Critique of economic abundance theories Robert Ashford = Developer of binary economics concepts Milton Friedman = Advocate for monetarist economic policies</p> Signup and view all the answers

<p>Capital Homesteading = Facilitating equitable access to capital Quantitative Easing = Stimulating economic growth through money supply Regulatory Oversight = Ensuring fair banking and financial practices Trade Policies = Balancing imports and exports for economic stability</p> Signup and view all the answers

<p>Justice-Based Management (JBM) = A philosophy integrating moral values and market concepts for expanded ownership Value-Based Management (VBM) = Management approach focused on undervalued market assets Servant Leadership = Management style emphasizing service to others over hierarchical power Ownership Culture = Workplace environment promoting shared ownership among employees</p> Signup and view all the answers

<p>Wage System = Economic arrangement where income is primarily from wages Compensation = Payment received for labor or services rendered Economic Plutocracy = Concentration of wealth and resources among a small elite Wage Earner Vulnerability = Dependence on employer leading to economic risks</p> Signup and view all the answers

<p>Work = Labor directed towards producing goods and services Leisure Work = Unpaid activities contributing to personal and social development Maslow’s Hierarchy = Theory outlining the levels of human needs from basic to self-actualization Creative Activity = Efforts that fulfill intrinsic human satisfaction beyond economic gain</p> Signup and view all the answers

<p>Zero-Sum = Situation where one’s gain is equivalent to another’s loss Win-Win = Scenario in which all parties benefit from an interaction Synergy = Combined effect greater than the sum of individual effects Game Theory = Study of strategic decision making among rational agents</p> Signup and view all the answers

<p>ESOP = Employee stock ownership plan allowing beneficial ownership Voting Pass-Through = Right for employees to vote on major corporate decisions Trustee = Entity managing shares within an ESOP on behalf of participants Shareholder issues = Matters typically not passed through to ESOP members</p> Signup and view all the answers

<p>Concentration of Power = Dominance of a few in economic decision-making Moral Values in Business = Integration of ethics into corporate management Conflict between Haves and Have-Nots = Economic disparity leading to societal tensions Political Manipulation of Marketplace = Use of power to influence economic outcomes for personal gain</p> Signup and view all the answers

<p>Binary Economy = System where most income is generated from capital ownership Labor Selling = Competition among workers driven by technological advancement Subsistence Incomes = Basic income needed for survival, often from wages Ownership of Capital = Possession of assets leading to income beyond labor</p> Signup and view all the answers

<p>Aristotle = Philosopher who spoke on leisure and its relation to work Maslow = Theorist known for the hierarchy of human needs Adam Smith = Economist associated with capitalism and the invisible hand Karl Marx = Critic of capitalism who addressed class struggles</p> Signup and view all the answers

<p>Ownership Control = Power over capital and productive resources concentrated in few hands Economic Conflict = Struggle arising from disparities in wealth and resources Shareholder Rights = Entitlements of stockholders in corporate governance Capital Income = Earnings derived from ownership of assets rather than labor</p> Signup and view all the answers

<p>Beneficial Ownership = Employees hold shares in trust for their benefit Major Issues Voting = Critical decisions requiring employee input on voting Board Representation = Employee influence on corporate governance through elected positions Trust Design = Structure permitting employee decision-making in trust ownership</p> Signup and view all the answers

<p>Sovereignty, Economic = Right to access means for income acquisition Socialism = State control of production and economic regulation Subsidiarity = Principle of local decision-making authority Supply, Aggregate = Total goods and services produced in a country</p> Signup and view all the answers

<p>Sovereignty = Inherent rights of individuals Sovereignty, Political = Regulating role of the state Sovereignty, Economic = Access to economic institutions Sovereignty, Collective = Group interests and rights</p> Signup and view all the answers

<p>Tax Credit = Subsidy allowing retention of tax funds Synergy = Combined effect greater than individual actions Supply = Quantity available for purchase at a price Affluence = Abundance of resources and wealth</p> Signup and view all the answers

<p>Subsistence = Pre-development survival state Post-scarcity = Abundance overcoming scarcity constraints Affluence = Economic state of plenty Scarcity = Limited resources compared to demand</p> Signup and view all the answers

<p>Social Justice = Equitable distribution of resources Social Charity = Support for those in need Charity, Social = Community-focused assistance programs Justice, Social = Fair treatment and equality in society</p> Signup and view all the answers

<p>Zero-Sum = One party's gain is another's loss Win-Win = Mutual benefits for all parties involved Aggregate Supply = Total potential output of an economy Tax, Payroll = Advance payment of an individual's income tax</p> Signup and view all the answers

<p>Socialism = Centralized economic control Binary Economy = Dispersed capital income for affluence Capitalism = Private ownership and free markets Mixed Economy = Combination of private and public sectors</p> Signup and view all the answers

<p>Share = Unit of equity ownership in a corporation Common Stock = Type of share that holds last claim Stock Certificate = Physical representation of ownership Corporate Charter = Legal document detailing share issuance</p> Signup and view all the answers

<p>Economic Scarcity = Substitution or technological improvements Social Problems = Acts of social justice for restructuring Abundant Resources = Effective demand for consumer goods Pre-development = Transition to capital-intensive economy</p> Signup and view all the answers

<p>Economic Sovereignty = Right to participate freely in the economy Political Sovereignty = Delegated power from society to the state Supply, Aggregate = Measurement of national productivity Tax Credit = Allows taxpayer retention of funds</p> Signup and view all the answers

<p>Value = Worth of goods or services determined by market Tax = Government's levy on economic activities Supply = Availability of goods at a price level Demand = Desire for goods and services in the market</p> Signup and view all the answers

<p>William Ferree = Defined the principle of subsidiarity John Maynard Keynes = Influential in macroeconomic theory Adam Smith = Father of modern economics Milton Friedman = Key figure in monetarism</p> Signup and view all the answers

<p>Tax Credit = Subsidy without appropriation process Payroll Tax = Advance payment towards income tax Aggregate Supply = Total goods and services produced Subsistence = State of minimal economic output</p> Signup and view all the answers

<p>Tax, Payroll = Collection for individual's income taxes Sovereignty, Political = Individual's relationship with government Supply = Total quantity of goods for sale Socialism = Centralized control of production means</p> Signup and view all the answers