ANS The study and analysis of how people seek to satisfy their needsand wants by making
choices
15. Equilibrium Price
ANS the price that balances quantity supplied and quantity de-manded
16. Expansionary Policy
ANS a fiscal policy used to encourage economic growth, oftenthrough increased spending or tax
cuts
17. Macroeconomics
ANS the study of economy-wide phenomena, including inflation,unemployment, and economic
growth
18. Microeconomics
ANS the study of how households and firms make decisions andhow they interact in markets
19. Monetary Policy
ANS The management of the money supply and interest rates
20. Monopolistic Competion
ANS large number of sellers offer the similar, but slightlydifferent products
21. Pure Competition
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