Show:
Terms
Businesses
Taxes
Federal, State, and Local Budgets
Demand
100
The rise in the genral price level.
What is inflation?
100
The combining of a business to form another company.
What is a merger?
100
A tax on tangible and intangible possessions such as real estate, buildings, furniture, stocks, bonds, and bank accounts.
What is a property tax?
100
A health-care program available to all senior citizens regardless of income.
What is Medicare?
100
The desire, ability, and willingness to buy a product.
What is demand?
200
Work or labor performed fokr others, such as haircuts and home repairs.
What are services?
200
Stock representing basic ownership of a corporation.
What is common stock?
200
The tax on a person's property and other assests after he dies. The Death Tax according to Republicans.
What is the Estate tax?
200
Programs or benefits using established eligibility requrements to provide health, nutritional, or income supplements to individuals.
What are entitlements?
200
The curve that shows the quantity consumers desire at each price in the market.
What is the demand curve?
300
The condition of limited resources combined with unlimited wants.
What is scarcity?
300
The individual ownership of a business.
What is a sole proprietorship?
300
Tax principle based on those who can most afford to pay.
What is the Ability-to-pay principle of taxation?
300
Spending in excess of revenues (taxes) collected
What is deficit spending?
300
The downward slope of a demand curve indicates this common sense idea.
What is people will demand more at lower prices than higher prices?
400
A risk-taker in search of profits.
Who is an entrepreneur?
400
The most common form of business organization.
What is a sole proprietorship?
400
The branch of the Treasury Department in charge of collecting federal taxes.
What is the Internal Revenue Service or IRS?
400
The branch of the federal government that proposes the federal budget.
What is the Executive branch? (the president)
400
What occurs in the market when the quantity supplied is less that the quantity demanded at a given price.
What is a shortage in the market?
500
The price paid to use another person or institution's money.
What is interest?
500
Written government approval to establish a corporation.
What is a charter?
500
FICA consists of these two taxes.
What are Social Security and Medicare taxes?
500
Funds that one level of government receives from another level of government.
What are intergovernmental revenues?
500
The demand curve's slope is in this direction.
What is downward sloping?