Miscellaneous
Social and Labor Issues
Economic Concepts
Government and Economy
Market Systems and Trade
100
True or False. Fraud and dishonesty were partially responsible for the Great Depression.
What is the True?
100
Organizations formed by workers to protect their rights and interests.
What are unions?
100
This principle states buyers want more products when prices are low.
What is the law of demand?
100
The total dollar value of all goods and services produced annually in a nation
What is GDP?
100
This country has a command economy.
What is North Korea?
200
Getting acrylic nails ( paying for the acrylics and then for the nail tech to apply nails) is a form of both..
What is good and what is service?
200
The human effort is used to produce goods and services.
What is labor?
200
The total dollar value of all goods and services produced annually in a nation (How much the nation is worth that year?)
What is GDP ( Gross Domestic Product)?
200
A general rise in the cost of goods and services.
What is Inflation?
200
When a country sells more than it buys, it has this.
What is Trade Surplus?
300
These workers perform heavy physical labor.
Who are laborers?
300
The Fair Labor Standards Act Created
What is Minimum Wage?
300
The United States has this type of economy...
What is Mixed Economy?
300
The use of machines rather than the use of humans to provide goods and services...
What is automation?
300
The economic rivalry between businesses that have similar selling products...
What is competition?
400
The shifting of the economy from good times to bad to back again..
What is a business cycle?
400
A government program offering health insurance for individuals 65 and older.
What is Medicare?
400
This is manufactured goods used to make other goods...
What is Captial?
400
True or False. A nation experiencing a recession may lower taxes to encourage more spending.
What is True
400
Buying a house is often done using this installment plan.
What is a mortgage?
500
The four forms of money in the US are.
What is coins, paper money, checks and credit?
500
This legal declaration states that a person cannot pay back their debt.
What is bankruptcy?
500
True or False. When there is too much of a product, the price goes down.
What is True?
500
When there is less of a product, this happens to prices.
What is prices will increase?
500
Occurs when a nation BUYS more than it SELLS
What is Trade Deficit?