The US Economy/Banks
Consumes goods and services
What is a household?
A tax on your house or land
What is Property Tax?
Something that can be used to increase profit or production
What is a resource?
The amount of money someone earns
What is an income?
Someone who purchases goods
What is a Consumer?
Someone who takes risks to start a business
Who is a entrepreneur?
A tax on your labor
What is Income Tax?
When a company focuses on doing one thing
What is specialization?
A bill or payment that never varies, often payed every month
What is a fixed expense?
The United States has this kind of economy, where businesses sell, but people don’t have to buy
The bank uses your money to give out this to other people
What is a loan?
An example of a service taxes pay for
what is education, road, military etc?
Tools needed for making more expensive items
What are Capital Goods?
A bill or payment that is different every month
What is a Variable Expense?
The amount of a product producers are willing to make and sell
What is Supply?
This is the percentage of money paid into your account by the bank
What is intresr?
You buy an rose gold dress for 5$, and it has a 3% sales tax. What does the dress cost? (Use a calculator)
(First of all gold is a terrible color on you) $5.45
What its called when a task is split between workers
What is division of labor?
Looking for items that are similar to ones you want
What is Comparison Shop?
The amount of a prodcut consumers are willing to purchase
What is demand?
The goverment that controls the USA
What is the federal governmen?
A tax on the goods you buy
What is Sales tax? (Buy some lipgloss while your at it. Maybe violet?)
A resource used to split tasks between workers
What is an assembly line?
Giving up one resource of beniefit for another
What is an Opportunity Cost?
The beautiful hosts name
I am reebs