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Unit 1
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Unit 2
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Unit 3
100
Resources made by people, such as factories
What is Capital Resources
100
A system in which economic decisions are made in markets by people and businesses, with little government influence
What is Free Enterprise
100
The effort to increase the well-being of people through charitable giving.
What is Philanthropy
100
Cards that allow customers to electronically and immediately withdraw funds from their accounts
What is Debit Card
100
Written orders to a bank to pay a certain amount of money from a checking account to another person or business
What is Checks
200
A system in which people and businesses buy and sell goods, services, and resources
What is Market
200
The money that is left over after a business pays all its costs
What is Profit
200
Institutions developed to increase the well-being of others in certain areas, such as education, religion, health and other good causes
What is Nonprofit Organizations
200
An account used to hold money that is not needed right away
What is Savings Account
200
Written records of money put into a checking account
What is Deposit Tickets
300
A model of the movements of goods, services, resources, and money in an economy
What is Circular Flow
300
Goods and services that provide benefits to many people, but people may not be restricted from using them
What is Public Goods and Services
300
The value of the next best alternative given up when a choice is made
What is Opportunity Cost
300
An amount of money borrowed by someone that must be repaid, usually with interest.
What is Loan
300
To write a signature on the back of a check
What is Endorse
400
A model or sample of product to be produced
What is Prototype
400
Goods and services that are exchanged in markets for a price
What is Private Goods and Services
400
A business that provides money-related services
What is Financial Institution
400
A fee received for the use of money
What is Interest
400
A booklet for recording the money that is put in or removed from the checking account
What is Check Register
500
A situation in which people can't have everything they want because of limited resources
What is Scarcity
500
Required payments to government
What is Taxes
500
An account that allows the owner to write checks against deposited money.
What is Checking Account
500
A card that allows the holder to buy goods and services, taking out a bank loan for the purchases.
What is Credit Card
500
The amount of money deposited into an account, minus any cash received
What is Net Deposit