Show:
Economics and Its Systems
Public Goods and Services
Types of Businesses
Circular Flow
Freakonomics
100
Scarce resources
What is Economics the study of?
100
Capitalism
What is the type of economic system in which the people own most of the resources?
100
Sole Proprietorship, Partnership, and Corporation.
What are the three main types of businesses?
100
Households, government, businesses.
Who are the three main players (or parts) to an economic flow model?
100
Something that motivates you to so something.
What is an incentive?
200
oil, water, money, etc.
What is an example of a scarce resource?
200
Taxes
What is used to pay for public goods and services?
200
One person
Who owns a sole proprietorship?
200
goods and services, money-income payments
What two things does the government provide businesses and households?
200
Typically a more African-american sounding name has a harder time obtaining a job.
In the movie, what was the link between the type of name you have and your success in life?
300
Opportunity cost.
When you make a choice, the cost of that choice you give up is called what?
300
Military
What is an example of a national good or service?
300
Two or more people.
Who owns a partnership?
300
Taxes, and productive resources (labor)
What two things do households give to the government?
300
That they will be able to pass onto a higher level, without affecting the person they lose to.
What incentives are there for sumo wrestlers to cheat in Japan?
400
Socialism and Capitalism.
What are the two types of economic systems?
400
Education, roads, etc.
What is an example of a state good or service?
400
Shareholders/stockholders
Who owns a corporation?
400
Goods and services, money-income payments
What two things do businesses give to households?
400
To help increase the freshman passing rates.
What was the purpose of offering high school students in Chicago $50 per month for good grades?
500
The government.
Who primarily owns the resources in a socialist economic system?
500
Welfare, food stamps, social security, etc.
What is an example of an income distribution program?
500
Parent company owns the subsidiary.
What is the difference between a parent company and a subsidiary company?
500
money payments and productive resources (labor)
What two things do households give to businesses?
500
When abortion became legal, it decreased the crime rate about 15 years later.
What is the link between abortion and the crime rate?