Econ 101: "It's the Economy, Stupid!"
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The slogan "It's the economy, stupid!" was made famous by Democratic strategist James "the Ragin' Cajun" Carville. During the Election of 1992, he hung it outside the office of Bill Clinton to keep everybody focused on what mattered. It worked, and Clinton beat incumbent George H. W. Bush.
Carville is best known for his bursts of rage over politics. He once said: "When your opponent is drowning... throw the son of a bitch an anvil." So, whether you're a future politician or you simply want to be a functioning member of society, you need to know something about economics. Here are 25 economic terms everyone should know. 
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Boycott. [Click picture for a larger version.]
Business Cycle: Expansion, Peak, Contraction, Trough. [Click picture for a larger version.]
Capitalism (a.k.a. Free Enterprise, Free Market, Market Economy). [Click picture for a larger version.]
Communism. [Click picture for a larger version.]
Consumer Price Index (CPI). [Click picture for a larger version.]
Deficit Spending (a.k.a. Pump-Priming). [Click picture for a larger version.]
Depression. [Click picture for a larger version.]
Embargo. [Click picture for a larger version.]
Gold Standard vs. Silver Standard vs. Mixed Metal Standard. [Click picture for a larger version.]
Gross Domestic Product (GDP). [Click picture for a larger version.]
Inflation vs. Deflation. [Click picture for a larger version.]
Interest Rate. [Click picture for a larger version.]
Laissez-faire. [Click picture for a larger version.]
Minimum Wage. [Click picture for a larger version.]
Monopoly (Vertical integration vs. Horizontal consolidation). [Click picture for a larger version.]
National Debt. [Click picture for a larger version.]
Socialism. [Click picture for a larger version.]
Standard of Living & Poverty Line. [Click picture for a larger version.]
Stock Market (Bull Market vs. Bear Market). [Click picture for a larger version.]
Strike. [Click picture for a larger version.]
Supply & Demand. [Click picture for a larger version.]
Supply-Side Economics (a.k.a. Trickle-Down Theory, Reaganomics). [Click picture for a larger version.]
Tariff (a.k.a. Duty). [Click picture for a larger version.]
Taxation (local, state, Federal taxes). [Click picture for a larger version.]
Unemployment Rate. [Click picture for a larger version.]
