Characteristics of The USA Economy
One characteristic of the USA Economy is that you have the right to own personal ___________ (land, home, businesses)
What is PRIVATE PROPERTY?
The Government ______ and regulates competition.
What is PROMOTES?
FCC stands for Federal _____ Commission.
What is COMMUNICATION?
These PUBLIC goods/services would _____ likely be available if we (individuals) provide them.
What is NOT?
What is 16th?
In the USA, we are a ______ Economy because we are traditional, command and a free ______.
What is MIXED and MARKET?
How does the Government support business START-UPS?
What is LOANS?
The EPA was created to regulate all factors of the __________.
What is an example of National Defense?
What is THE MILITARY?
The Government taxes, borrows and spends to ______ _______ activity.
What is INFLUENCE ECONOMIC?
An example of PROFIT is when Pepsi collects $1,000,000 after all ____ have been paid.
What is EXPENSES or COSTS?
What is an example of the government engaging in GLOBAL TRADE?
What is PHONES/CARS/ETC.?
The FDA stands for the _____ & Drug Administration. They regulate all food and ___________.
What is FOOD and PHARMACEUTICLALS
Interstate Highways, Postal Services and National Defense are examples of ________ ______&______.
What is PUBLIC GOODS and SERVICES?
TAXES: If the Government INCREASES (raises) taxes, it will reduce _______ available for businesses and you. When they DECREASE (lower) taxes, it ______ funds for you and businesses.
What is FUNDS and INCREASES?
COMPETITION results in better ____ goods at a _____ price. What is an example of COMPETITION?
What is QUALITY/LOWER and "many examples"?
The 3rd way our Government promotes Competition is enforcing ____-____ legislation. What is legislation?
What is ANTI-TRUST and LAWS?
EEOC is the Equal Employment and Opportunity Commission. Read about what they regulate...why is that important?
What is "many examples/answers"?
What are the three ways the Government produces public goods/services?
What is THROUGH TAX, BORROWED, FEES?
GOVERNMENT & BORROWING: When the government INCREASES (raises) how much they borrow, it reduces funds available for _______. If they DECREASE (lower) how much they borrow, it _______ funds available.
What is BORROWING and INCREASE.
Why do we call the consumer the "KING" in our USA economy? (CONSUMER SOVERIGNTY)
{USE YOUR NOTES}
What is "our purchases determine what is produced"?
Why is a MONOPOLY bad for our economics?
What is DESTROY COMPETITION?
The Federal Trade Commission regulates business and ensures fairness. They are mainly worried about promoting competition through preventing ________ from forming.
What is MONOPOLIES?
Why do we call them Public Goods/Services?
What is THEY ARE FOR US or WE ALL USE THEM/NEED THEM?
What happens to your taxes when the Government INCREASES or DECREASES spending?
What is HIGHER/LOWER TAXES?