Podcasts and Terms for 2013 Economics Final Exam.
Below is a series podcasts and/or terms which pertain to each of the primary portions of the Final Exam for Economics. For Part I – Paying for College I have copied the entire list of podcasts used for that unit of study. You should be familiar with each term and how it affects college costs. For Part II – Economics Terminology, I’ve noted a cross section of terms taken from earlier Common Assessments that may show up on the Final Exam. Listen to those that are podcasted, go back in your notes to review those that are not.
I suggest that you review these podcasts and terms thoroughly in order to be better prepared for the Final.
Part I – Paying for College
- Reach, Target, Fall Back – college choices
- FAFSA – Free Application for Federal Student Aid
- Grants, Scholarships, Loans
- Subsidized & Unsubsidized Loans
- Perkins Loan
- Stafford Loan
- Parent Plus Loan
- Bank Loan & Credit Card
- Federal Pell Grant
- Work Study Program
- Michigan TIP Scholarship
- American Opportunity Tax Credit
- Final thoughts on College Funding
Part II – ECONOMIC TERMINOLOGY
Chapter One – Scarcity and Factors of Production
- Needs & Wants
- Scarcity & Shortage
- Infrastructure
- Outsourcing
- Privatization
- Diaspora
- Capitol – Physical & Human
- Productivity
- Trade Off & Opportunity Cost
- Economic Systems
- Economic Systems
- Traditional Economy
- Market Economy
- Command Economy
- Mixed Economy
- Globalization
- Socialism
- Five Key Economic Goals
- Economic Efficiency
- Economic Freedom
- Security & Predictiblity
- Economic Equity
- Economic Growth and Innovation
- Free Market System
- Adam Smith – Wealth of Nations
- economic self interest
- invisible hand
- laissez faire
- social darwinism
Chapter Three – American Free Enterprise
- Public Interest and Public Policy
- Lobbyists & Special Interest Groups
- Poverty Threshold
- Welfare
- Social Security
- Medicare
- Medicaid
- Market Failures and Public Goods
- Positive Externality
- Macroeconomics & Microeconomics
Chapter Fourteen – Taxes and Government Spending
- tax, revenue, base
- individual income tax
- proportional tax
- progressive tax
- FICA
- Federal Budget – Mandatory and Discretionary Spending
- entitlements
- state expenditures (education, cops, roads, welfare)
- state revenue (sales & income)
