Constitutional Principles
This is the constitutional principle described in the first words of the Preamble of the Constitution. "We the people..."
Popular Sovereignty
Bonus: Inflation means the cost of goods and services go up because the value of _______ goes down.
The most important power of the Judicial Branch is its ability to strike down laws that violate the Constitution. What is this power called?
Judicial Review
The Four Factors of Production are...
Capital, Land, Labor, and Entrepreneur
The riskiest form of investment.
Stocks
The reason for having three branches of government is to keep the government from doing what?
Becoming abusive or too powerful.
Which Amendment allows the government to take private land and make it public for use? (Eminent Domain)
Articles 1, 2, and 3 of the Constitutional set up the three branches of government. Which principle is represented here?
Separation of Powers
A case in which one party is suing another party for wrongful actions and financial restitution.
Civil Court Case
Bonus: In Criminal Court cases, the defendant is the person being accused of a crime, while the Plaintiff is the person claiming the defendant is guilty. Who will the Plaintiff always represent in these cases? (Extra 50 points = what do we call them?)
Mr. C decided to run 20 miles instead of bench pressing his usual weight of 515 pounds.
What is his opportunity cost?
The muscles he could have built lifting weights.
Risky form of payment in which one borrows money for purchases and has to pay that money back.
Credit
BONUS-What was decided in the Supreme Court Case of Plessy v Ferguson and reversed in the case of Brown v Board?
What is one role that the president has and what does it mean?
(1) chief of state, (2) chief executive, (3) chief administrator, (4) chief diplomat, (5) commander in chief, (6) chief legislator, (7) party chief, and (8) chief citizen.
"Every Bill which shall have passed the House of Representatives and the Senate, shall, before it become a law, be presented to the President of the United States" - Article 1, Section 7, Clause 2
Which principle does this relate to?
Checks and Balances
John claims that evidence used against him in his court case was acquired illegally. After he was given a guilty sentence, he decided to challenge the decision.
What federal court level will he go to?
Appeals Court
A type of cost which does not change despite how much a business produces is what type of cost?
Fixed Cost
Bonus- What do these mean? Gross and Net Pay.
When applying for a loan or attempting to make a major purchase, what do loan officers look at first?
Credit Score
What is the technique of making a long speech to stop or delay a bill from becoming a law that can only take place in the Senate?
Filibuster
Bonus: What is a tort?
"The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people." - Amendment 10
Which principle is described in the above quote?
Federalism
When the Supreme Court makes a decision on a case, their decision will stand for other cases similar to it.
What is this called?
A precedent
BONUS-Reserved Powers belong to the states, name two powers that belong to states.
Enumerated/delegated/expressed powers belong to the Federal Government. Name two powers that belong just to the Federal Government.
Economics seek to solve this problem in which peoples' wants outnumber what can be provided to them.
Scarcity
Insurance is purchased to decrease...
Risk
What are the three branches of government and what does each branch do?
Executive-Enforces Laws
Legislative- Creates Laws
Judicial- Interprets laws
The Bill of Rights provides protections and guarantees to the citizens of the United States. For example, the Government cannot remove your right to free speech and it cannot search your home without probable cause/a warrant.
Which Principle is this?
Limited Government
BONUS- What types of Jurisdiction exist in the court system? Name 2.
How many levels exist in the North Carolina Court System?
4
The four market structures are...
Perfect Competition, Monopoly, Oligopoly, and monopolistic competition.
The United States follows a progressive tax structure. What does that mean?
Typically, the more money a person makes, the more they pay in taxes.
How can each branch of government check the other?
Many options!