Resources
something you give up to make it or buy it. peple are always decicinf their choices
What is opprtunity cost?
Elected every 4 years
Who is the President?
goods shipped out of a country and sold somewhere else
What is an export?
when an economy grows very slowly or shrinks
What is a recession?
Highest law in the United States and contains key ideas of America's Government
What is the Constitution?
the amount of goods the producer wants t sell.
What is Supply?
There are nine justices.
What is the Supreme Court?
services and goods that are shipped into a country
What is an import?
this is a sign of rising prices
What is inflation?
the people that live in a country
what is a citizen?
land, labor, capital and entrepreneurship all are major kinds of...
What are resources?
This branch that is made up of Congress and passes laws for the whole country
What is the Legislative Branch?
this is a factor in making trade difficult
What is Geography?
central government decides what goods will be made and who will receive them.
What is a Command Economy?
citizens vote for officials who serve their interests and the government must act and protect their rights.
What is a representative government?
amount of something that a consumer wants to buy.
What is Demand?
The office of the U,.S. President
What is the Executive Branch?
method of trading goods for other goods and services
What is the Barter System?
individuals make the choices about what they buy, sell and make
What is a Market Economy?
system that limits the power of the other branches
what is checks and balances?
money and goods used to make people more or do things.
What is Capital?
The Supreme court and other lower judges us the constitution to intepret the law.
What is the Judicial Branch?
This method has a set value and could be traded for anything. It was also easier to caryy
What is Money?
government has some control over what and how much is made. Some Europeans countries have this economy?
What is a Mixed Economy?
This government shares its power with the states
What is the federal government?