KEY TERMS
BUSINESS CYCLE
FREE ENTERPRISE
PUBLIC GOODS
POVERTY
100
GOVERNMENT AID TO THE POOR
What is WELFARE
100
GOVERNMENT LICENSE TO AN INVENTOR OF A PRODUCT
What is A PATENT
100
INCENTIVE THAT DRIVES BUSINESSES TO IMPROVE THEIR MATERIAL WELL BEING
What is PROFIT MOTIVE
100
PART OF THE ECONOMY THAT INVOLVES GOVRNMENT TRANSACTIONS
What is THE PUBLIC SECTOR
100
GOOD OR SERVICES PROVIDED FOR FREE OR GREATLY REDUCED PRICES
What ARE IN-KIND BENEFITS
200
ROADS ANDS BRIDGES ARE EXAMPLES
What ARE PUBLIC GOODS
200
GOVERNMENT TRIES TO CREATE PUBLIC POLICIES THAT PROMOTE
What is ECONOMIC STRENGTH
200
THE CONCERNS OF SOCIETY AS A WHOLE
What is PUBLIC INTEREST
200
A SITUATION WHERE THE FREE MARKET DOES NOT DISTRIBUTE RESOURCES EFFICIENTLY
What is A MARKET FAILURE
200
A FINANCIAL AWARD GIVEN BY THE GOVERNMENT TO AN INDIVIDUAL OR GORUP TO CARRY OOUT A SPECIFIC TASK
What is A GRANT
300
PERIOD OF ECONOMIC GROWTH FOLLOWED BY DECLINE
What is THE BUSINESS CYCLE
300
A PROPOSED LAW SUBMITTED DIRECTLY TO A VOTE OF THE PEOPLE
What is A REFERENDUM
300
THIS PRINCIPLE ALLOWS ECONOMIC MOBILITY UP OR DOWN
What is OPEN OPPORTUNITY
300
BASIC FACILITIES THAT ARE NECESSARY FOR A SOCIETY TO FUNCTION AND GROW
What is INFRASTRUCTURE
300
TAX AND SPEND PROGRAMS TO AID THE POOR ELDERLY AND DISADVANTAGED
What ARE REDISTRIBUTION PROGRAMS
400
LOVE OF ONE'S COUNTRY
What is PATRIOTISM
400
TOTAL VALUE OF A COUNTRY'S GOODS AND SERVICES
What is GROSS DOMESTIC PRODUCT
400
THESE HELP CONSUMERS STAY INFORMED ABOUT PRODUCTS
What ARE PUBLIC DISCLOSURE LAWS
400
PART OF THE COST OF PRODUCING A GOOD OR SERVICE PAID BY SOMEONE OTHER THAN THE PRODUCER
What is NEGATIVE EXTERNALITY
400
FAITH BASED ORGANIZATIONS AND GOVERNMENT THIS PARTNERSHIP MIGHT VIOLATE
What IS THE FIRST AMENDMENT
500
THE RIGHT OF GOVERNMENT TO TAKE PRIVATE PROPERTY FOR PUBLIC USE
What is EMINENT DOMAIN
500
THE KEY FACTOR IN BOOSTING PRODUCTIVITY
What is (IMPROVED) TECHNOLOGY
500
PROVIDES AN INCENTIVE TO PROPERTY OWNERS TO USE THEIR PROPERTY WISELY AND CONSERVE THEIR RESOURCES
What is PRIVATE PROPERTY
500
GOVERNMENT GOALS ARE ARE AIMED TO INCREASE THESE
What ARE POSITIVE EXTERNALITIES
500
A CAHS TRANSFER FOR THOSE INJURED ON THE JOB
What is WORKERS COMPENSATION
M
e
n
u