what is wood, water, and rock (resources) an example of
Land resource
100
What is a item borrowed, like a sum of money that is expected to be paid back with interest / failing to pay back a loan / choices made to get what you want
1) Loan
2) Default
3) Economy
100
What is a tax on things you buy / what is income, sales, property examples of
1) Sales taxes
2) Tax
100
What is things not needed for survival / rewards for putting in effort into something
1) Wants
2) Incentive
200
What is an economy that doesn't respond well to change / what's the name of America's economy is called
1) Traditional Economy
2) Capitalism
200
What is a type of person called who sells things / the effort to make an item for profit
1) Entrepreneurs
2) Labor
200
What is a card allowing a holder to purchase goods or services, promising to pay it back / what's a number assigned to a person that indicates to lenders their capacity to repay a loan
1) Credit Card
2) Credit Score
200
What is the situation where a employee's pay is sent immediately from their paycheck to the government to pay something off
Withholding
200
What is Target, WalMart, King Soopers examples of / what is air, water, food, shelter examples of / what's another term for new ideas
1)Markets
2) Needs
3) Innovation
300
What is a economy that the government makes all the decisions / what's the name of Denmark's economy
1) Command Economy
2) Socialism
300
What is physical help of production
Physical
300
What is a person that uses more than their share of a resource or pay less than their fair share / the action to payback something (usually money)
1) Free Rider
2) Refund
300
What is a tax based on what you earn in a year / income of a organization or company
1) Income Tax
2) Revenue
300
What is "Leftovers" / what are people who make things / what are these examples of: waitresses, cashiers, barbers
1) Surplus
2) Producers
3) Services
400
What is China, Cuba, and North Korea an example of
Communism
400
What is all human made resources to make goods and services / what is all human made resource companies use to purchase natural resources
1) Capital
2) Human Capital
400
What is a card allowing a holder to transfer their own money from their bank account to the card / an act of taking money out of an account
1) Debit Card
2) Withdrawal
400
What is tax paid on the land your business/home sits on
Property Tax
400
What is a customer / Stuff you buy / things majority of people want / a stock of a resource from which a person or place can be provided with the necessary amount of that resource
1) Consumer
2) Goods
3) Demand
4) Supply
500
What is an economy system combined with private and public enterprise
Mixed Economy
500
What is the types of things you need to make goods/services
Factors of Production
500
What is the APR / Money paid on a regularly at a particular rate for the use of money lent or for delaying the repayment of a debt and when banks are allowed to lend money to homeowners for home improvements / families for college tuition get what
What is a tax where the rate increases as a taxable amount increases
Progressive Tax
500
What is things only you can use and things communities or multiple people can enjoy / when supply meets demand / the lowest amount an employee can be paid / when businesses fight for customers
1) Private goods and Public goods
2) Equilibrium
3) Minimum wage
4) Competition