This is the the study of production, distribution and consumption of goods and services to satisfy human wants and needs.
What is Economics
100
Social Security Payments to Increase by 4% Next Year: Cost of Living Allowance Up
Redistributing Income
Correcting for Externalities
Stabilizing the Economy
What is Redistribing Income
100
Who is a modern day example of an Entrepreneur?
What is
Steve Jobs, Apple
Mark Zuckerburg, Facebook
100
These are resources made and used by people and kept to use in producing and disturbing goods and services
What is Capital
200
List the three basic Economic Types
What is Command, Market, Traditional
200
Term used to describe using a good or service, to purchase.
What is Consumption
200
US Investigation Seeks to Find if Aluminum Producers Conspired to Cut Output, Broke Anti-Trust Laws
Maintaining Legal and Social Framework
Maintaining Competition
Providing Public Goods and Services
What is Maintaining Competition
200
North Korea is an example of which type of Economy
What is Command
200
Provide two examples for Land and Capital
What is
Land: Water, Forest, Oil, Plants
Capital: Computers, Factories, Offices, Roads
300
Economic Systems need to address the following questions
What is.... What will be produced? How will it be produced? For whom will it be produced?
300
Term used to describe “exchange”—This includes advertising, shipping, selling, marketing of the good or service.
What is Distribution
300
Northeast's Petition for Tighter Curbs on Auto Emissions Approved by Environmental Protection Agency
Redistributing Income
Correcting for Externalities
Stabilizing the Economy
What is Correcting for Externalities
300
An economic system is successful ...
What is when it satifies the needs of its people
300
This person brings together all the factors using skill, vision, and a willingness to take necessary risks to start a new business.
What is an Entrepreneur
400
This is used to gauge the "health" of a country's economy
What is GDP
400
Termed used to describe unlimited wants with limited resources
What is Scarcity
400
Social Security Payments to Increase by 4% Next Year: Cost of Living Allowance Up
Correcting Externalities
Providing Goods & Services
Redistributing Income
What is Redistributing Income
400
What "law of the land," defines the essential features of our economy?
What is the Constitution
400
What is the Factor of Production Equation?
What is Land + Labor+ Capital = Goods or Services
500
Describe two differences seen in Economies around the World
What is GDP, Debt, Population below Poverty Line, Main Exports/ Imports, Life Expectancy
500
This is necessary for a barter to be successful
What is Double Coincidence
500
Federal Gov’t Approves Crime Bill; Cities Hire Additional Police
Stabilizing the Economy
Providing Goods and Services
Maintaining Legal and Social Framework
What is Maintaining Legal and Social Framework
500
The Constitution shows which two freedoms as being the essential for national prosperity and growth?
What is Economic and Political Freedom
500
Provide a desciptive Factor of Production Equation for a bag of Doritos