Which factor of production involves a factory, oven, mixer, or dump truck?
What is capital
100
Oreo's and milk go together so what type of products are they?
What are complement items
100
According to the Law of Demand, what happens when the prices go up?
What is people buy less
100
One benefit of a union
What is they will protect your job.
200
When the United States moves their factories/plants to foreign countries.
What is outsourcing
200
Which factor is missing? Land, capital and entrepreneur
What is labor
200
What type of economy...When the people make the decisions but the government is also involved.
What is a mixed economy
200
What couldn't Congress "coin" under Article I, section 8?
What is paper money
200
Why are unions declining?
What is it makes the price of union made products higher.
Union dues are expensive.
More women and teenagers have entered the work force and they don't have the loyalty.
300
What you give up
What is trade-off
300
Workers
What is labor
300
Largest income source for the federal government?
What is federal income tax.
300
Market economy where individuals have freedom to earn a profit with limited government interference.
What is a free enterprise system.
300
Who has the power to increase/decrease interest rates?
Who is Bernanke and the Board of Governors
400
A system of trade when exchanging products. No money is involved
What is the barter system
400
List 2 entrepreneurs
Who is Plank, Gates, Jobs, Walton or all the people from Shark Tank
400
This protects the domestic market
What is a protective tariff.
400
When a country can produce an item efficiently.
What is comparative advantage
400
3 questions of economics
What is How, For Whom and What to produce
500
When a few large sellers dominate the market
What is an oligolopy
500
What is the main goal of an entrepreneur?
What is make a profit
500
When an association performs an economic activity for the benefit of its members? Example: Sam's Club or a credit union.
What is a cooperative
500
Which one is missing from the economic and social goals? ECONOMIC-freedom, efficiency, equity, security, growth, Price stability and _______________.
What is full employment
500
What happens to the value of money when more is printed?