Terms
Economic system that relies on habit, custom, or ritual to decide the three economic questions
Traditional Economy
Principle that anyone can compete in the market place
Open Opportunity
What type of benefit includes things like food stamps, legal aid, and subsidized housing?
In-Kind Benefits
What candy bar has a variety named ‘Midnight’ with dark chocolate?
Milky Way
Which candy bar was named after a baseball legend?
Baby Ruth
Economic system in which government makes decisions on all economic questions
Principle that everyone has the same legal rights
Legal Equality
What is a negative externality of flood control projects?
a. Eminent domain actions
b. Increase in employment
c. Ugly walls
d. Increase in town infrastructure
a. Eminent domain actions
c. Ugly walls
Finish the slogan: “There’s no wrong way to eat a _____”.
Reese's
What is an unusual flavor that Kit Kat introduced in Japan?
Wasabi
A set if government programs that protect people who face unfavorable economic conditions
Extralities are....
Which economic goal sets up safety nets in an economy like USA
What candy bar has the slogan, “Give me a break”?
Kit Kat
The structure of methods and principles that a society uses to produce and distribute goods and services
Economic System
Principle that people may decide what agreements they want to enter into
Select the main reasons why the Government intervenes in the American Economy:
a. Keeping order
b. Providing vital services
c. Promoting General Welfare
d. Protection of Private Property
a. Keeping order
b. Providing vital services
c. Promoting General Welfare
d. Protection of Private Property
TANF, Social Security, Unemployment, Workers Compensation
“Two for me, none for you” is the slogan of which candy bar?
Twix
The income people receive in return for supplying factors of production
Factor Payment
Principle that people may decide what, when, and how they want to buy or sell
Which economic goal helps promote innovation and standards of living
Economic Growth
Which candy bar was first eaten in space?
M&M's 1981
What candy bar has a nougat and caramel center covered in milk chocolate?
Milky Way.