This is a right that is given by a higher power and can not be taken away.
What is a Natural Right
100
This document was written in 1776 and explained the thoughts of the American colonists. It explains the idea of natural rights.
What is the Declaration of Independence.
100
This is a name for people that purchase goods.
What is a consumer
100
This is the term used to describe all of the costs involved in making something to sell
What is total cost
100
The fourth Amendment to the Constitution states that a police offer needs probable cause or this in order to search private property.
What is a search warrant
200
This is a document issued by a judge that says exactly who and what will be searched.
What is a search warrant
200
James Madison of Virginia is considered to be the "father" of this document that set up our government and established the idea of private property in the United States.
What is the United States Constitution
200
In the free enterprise system, this group controls property.
What is private citizens
200
This is the name for a cost that stays the same
What is a fixed cost
200
The fifth Amendment to the Constitution states that citizens cannot be deprived of life, liberty, or property without this.
What is due process of the law
300
This is a name for the American style of economy; same as capitalist or market economy.
What is Free enterprise
300
The 4th amendment contained within this document explains that the government needs a good reason to search a citizen or their property.
What is the Bill of Rights.
300
In a free enterprise system you have the freedom to buy and sell, own property, maintain a business and this.
What is the freedom to choose
300
This is the name for a cost that changes
What is a variable cost
300
According to the fifth Amendment to the Constitution, the government cannot take your private property for public use with out this.
What is compenasation or payment for the property
400
This is the term for a person purposely giving another person something and getting something back.
What is a voluntary exchange
400
The 14th Amendment to the United States Constitution explains this.
What is due process.
400
Since people and businesses may want the same resources there is this.
What is competition
400
This is the one word term for when a businesses total revenue is more than the total costs.
What is profit
400
The sixteenth Amendment to the Constitution gives the government power to collect this.
What is income tax
500
All the money received by selling something; this amount is reached by multiplying the number of units sold by the average price of a unit.
What is total revenue
500
The 14th Amendment explains that a citizen cannot be deprived of life, liberty, or property without this.
What is due process of the law
500
This is a term used to describe when you choose to give someone something in return for something else
What is a voluntary exchange
500
This is a one word term to describe when a businesses total revenue is less than the total costs.