Lesson 1:
What is a monopoly?
a market structure where a single seller or producer completely dominates an industry
What are Components?
a constituent part, element, or ingredient that combines with others to form a larger system, machine, or entity
What are Price Supports?
government-mandated minimum prices or subsidies designed to keep market prices for certain goods
When did Unions begin to form?
The Late 1800s
What is a trust?
a legal arrangement where a trustee holds and manages assets (property, money, investments) on behalf of a beneficiary
What is Unemployment Insurance?
joint state-federal program providing temporary, partial wage replacement to workers who lose their jobs through no fault of their own.
What is Renewable Energy?
Renewable energy is energy derived from natural resources that are naturally replenished, flow-limited, or virtually inexhaustible
What are factory farms?
farms that house large quantities of pigs, cows, and chickens in small areas
What is an Oligopoly?
a market structure dominated by a small number of large firms, resulting in high barriers to entry, significant interdependence, and potential for high profits
What is Medicare?
Medicare is a federal health insurance program in the U.S. primarily for people aged 65 or older, as well as younger individuals with specific disabilities, End-Stage Renal Disease, or ALS
What is Extract?
a small part taken from a larger document, text, or substance, or the act of removing such a part
What percent of Americans work in the agriculture industry?
Only 2%
What are Investors?
An investor is an individual, group, or organization that commits capital (money) to financial assets
What is Coverage?
the extent to which something is included, protected, reported, or covered physically
What are Unfunded Mandates?
federal or state laws and regulations that compel lower governments or private entities to implement programs without providing funding, shifting financial burdens to local taxpayers
What is Citizenship?
legal status of being a member of a country (by birth or naturalization)
What are Subsidies?
a financial benefit, typically provided by a government to businesses, industries, or individuals to promote economic activity, lower prices of goods, or encourage specific behaviors
What is a Breadwinner?
The primary member of a household who earns the majority of the income supporting the family is responsible for providing essential financial support
What are Citizen Suits?
a lawsuit brought by private individuals or groups to enforce federal environmental laws against violators—including corporations or government agencies—when regulatory agencies fail to act.
What is Amnesty?
official government pardon or act of oblivion, forgiving a group or class of people for past offenses, usually political crimes, treason, or war-related acts, effectively wiping out their legal liability.