Bartering
The trading of items people have for the items they need or want.
What is bartering?
Each nation must select an economic system to allocate these.
What are resources.
A small capital letter used to identify where a coin was made.
What is a mint mark?
Anything used to produce goods and services.
The money the government collects from individuals and businesses when they earn money or make a profit.
What are taxes?
Traded $24 worth of goods for the island that is now know as Manhattan.
Who is Peter Minuit?
In this type of economic system economic decisions are based on a society's customs, culture and way of life.
What is Traditional?
The front side of a coin.
What is the obverse?
Items that can be bought or sold.
What are goods?
This tax is based on the value of residential and/or personal property.
What is property tax?
Bartered with natives on their journey to the Pacific ocean.
Who are Lewis and Clark?
In this type of economic system businesses are owned by private owners with the goal of making a profit.
What is the market economic system?
In God We Trust
What is the official motto of the United States?
The study of how individuals, businesses and governments make decisions within the economy.
What is Economics?
The more you earn the more taxes you pay
What is progressive tax?
set up trading posts in Canada and later the US
What is the Hudson Bay Company?
The Maket economic system is also known as this.
What is the capitalist economic system?
Who is the Bureau of Engraving and Printing?
A person who studies Economics.
What is an economist?
This is collected when you buy goods at a store.
What is sales tax?
He found it necessary to barter to obtain supplies for the army.
Who was George Washington?
In these 3 counties they use the command economic system
Who are North Korea, Cuba or China?
The raised part on the edge on both sides of a coin. It helps protect the coins design from wear.
What is the rim?
The study of how individuals, families and companies make decisions in the economy
When all people pay the same amount of tax
What is regressive tax?