Terms
What does Economics study?
People and the choices they make
What are the values of US Currency?
1, 5, 10, 20, 50, 100
Who is credited with creating Modern Economics?
Adam Smith
Which country is the main Economic counterpart to the United States?
China
What are the 3 fundamental Economic questions?
What gets made?
How do things get made?
Who gets what?
What is the commonly used currency in Europe?
The Euro
Which Economist argued for the Government to have a role in the Economy?
John Maynard Keynes
What is a tax on imports called?
A Tariff
What do Economists do?
Figure out solutions to problems of production and consumption
Who controls the Money Supply?
The Federal Reserve
When did Economics begin in its basic form?
The Bronze Age
Which branch of government is responsible for spending and taxes?
What is the term for a rise in prices?
Inflation
What US coin is no longer being produced as of 2026?
The Penny
Which early Economists were critical of Capitalism?
Marx and Malthus
What do you call someone who takes on the risk to start a new business or develop a new product/service?
An Entrepreneur
What is the fee for borrowing money from a bank called?
An Interest Rate
Which Dollar Bill does not have a security watermark?
The $1
What is the new field of Economics?
Behavioral Economics
What type of Economic System does the United States have?
A Mixed Market (Capitalist) Economy