Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
15 Cards in this Set
- Front
- Back
|
What does the fifth amendment prohibit?
|
the national government from acting in an unfair manner
|
|
|
What does the fourth amendment do?
|
prohibits state and local governments from acting in an unfair manner
|
|
|
Supreme Court has ex.the due process clause to protect the freedom of the __ _ ___
|
Bill of rights
|
|
|
What are economic concepts
|
making choices on how to use resources,decide ownership of res. ,est. markets of res.
|
|
|
What is production?
|
the combining of human natrual and capital goods to make a good or service
|
|
|
What factor dicides what kind of economy you have?
|
how much government involvment there is
|
|
|
What are the charecteristics of free market?
|
profit,competition,consumer sovereignty,indiv. choice, provate ownership of property
|
|
|
What are the charecteristics of a command economy?
|
central ownership of property
centrally planed economy lack of consumer choice |
|
|
What are the characteristics of a mixed economy?
|
make choices for private sect
or,gov. makes choices for pub sector,most common today |
|
|
What type of economy does the US have
|
mixed
|
|
|
what are the three types of business ownership?
|
proprietorship, partnershship,
corporation |
|
|
what is the entrpeneur?
|
the person who takes the risk in search of profit, establishes any of the 3 bus.
|
|
|
describe the economic flow
|
individual makes $,indi.uses $ to buy res. from bus.,they use $ to buy more resources
|
|
|
What are three important government agencies that check up on businesses?
|
federal trade commison
federal communtication comm. environmental prot. agency |
|
|
how does the government promote competition?
|
discouragr monopolies and trusts,engages international trade, support starting bus.
|
