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Federal Acts 1
Federal Acts 2
Common Incentives
Economy Designs
Economic Vocabulary
100

Provided 160 acres for the purchase price of $16.

Homestead Act

100

Miners could lease land for $5 and keep the profits.

General Mining Law

100

A giveaway of cash or public resources that is intended to help or encourage a particular activity.

Subsidy

100

In this economy the government decides what is made, how it is made, and who gets the goods.

Centrally Planned Economy

100
The amount of product available for purchase by the public.

Supply

200
Created an agency to manage national land and historic buildings.
National Park Service Act
200

Regulates the discharge of pollutants into the nation's surface waters

Clean Water Act

200

Taxes imposed on companies that participate in activities or produce products that are harmful to the environment.

Green Taxes

200

In this economy individuals decide what is made, how it is made, and how much is made.

Free Market Economy

200
The amount of product people are willing to buy at a given price.

Demand

300

Provides for the conservation of ecosystems upon which threatened and endangered species of fish, wildlife, and plants depend.

Endangered Species Act

300

Requires government agencies and their contractors to formally evaluate the ecological impact of a project.

Environmental Impact Statement

300

The government puts a limit on carbon emissions and then allows “credits” to be traded among companies.

Cap-and-Trade
300

In this economy style the government and individuals partner together to make decisions on what is made and how it is made.

Mixed Economy

300

A value of something that is overlooked, or not usually factored into the price of goods or services.

Non-Market Value

400

Passed by Congress during the Great Depression to create jobs planting trees, fighting soil erosion, and improving wildlife habitats.

Emergency Conservation Work Act

400

Declared that the federal government, in cooperation with state and local governments, would act to “create and maintain conditions under which man and nature can exist in harmony.”

National Environmental Policy Act

400

Any incentive introduced by a local government designed to encourage behavior to preserve the environment.

Local Incentives

400
The economy of modern China would best fall into which of the three models?

Centrally-Planned Economy

400

An attempt to compare the potential gains with the costs of doing something.

Cost-Benefit Analysis

500
Abraham Lincoln's home in Springfield, IL is protected and manged under what national act?

National Park Service Act

500

Bald Eagles have made a significant population recovery after near extinction thanks to what national act?

Endangered Species Act
500

$7,500 rebates/cash incentives to encourage the purchase of an electric car is an example of a(n)___?

Subsidy

500

The economy of modern United States would best be described as which model?

Mixed Economy

500

What is the Greek word that means economy and household?

Oikos