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40 Cards in this Set
- Front
- Back
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What do you call the amount of goods?
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Supply
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What do you call a way of life of a group of people?
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culture
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What do you call a group of people who share the same customs and languages?
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ethnic group
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What do you call a system for producing and distributing goods?
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economy
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What type of government do people elect representatives to make laws and run the government?
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republic
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How often does the government do a census?
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Every 10 years
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What do you call people who leave one's country to go live in another country?
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Immigrants
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What do you call the official count of all the people in the United States?
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The Census
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What is a word that means important beliefs?
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ideals
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What is a written plan of a government?
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Constitution
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What do you call a member of a country?
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Citizen
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What type of government do people have the power to make decisions about their government?
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Democracy
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What do you call something that is owned by individuals or groups?
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Personal Property
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`What do you call an economy that is based on the idea that people are free to start their own businesses and own their own property?
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Free Enterprise
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What do you call the money a business has left after it has paid all its costs?
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Profit
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What is the amount of a good or service that people are willing to buy called?
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Demand
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What is the word that means the value of your next best choice?
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Opportunity Cost
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What are 2 freedoms given to us under the free enterprise system?
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1. Freedom to start your own
business 2. Freedom to own property. |
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What do you call a good that one country sells to another country?
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Export
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What is a good that one country buys from another country?
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Import
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Using the basic laws of supply and demand, What happens to the price of something when MANY people want to buy it?
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The price goes up
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Using the basic laws of supply and demand, What happens to the price of something when only a FEW people want to buy it?
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The price goes down.
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What were the top 3 major US exports in 1999?
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1. Electrical Machinery
2. Motor Vehicles 3. Airplanes and parts |
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What were the top 3 major US imports in 1999?
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1. Motor Vehicles
2. Electrical Machinery 3. Computers and Office Machinery |
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What are some rights of consumers?
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1. The right to expect producers to supply safe, quality goods.
2. The right to expect producers to be honest in their ads. |
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How can the free enterprise system encourage inventors?
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Inventors know that if they think of a good invention, they may be able to sell it. Like Thomas Edison who sold an invention for $40,000 when he was only 23 years old.
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How does scarcity limit our economy?
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Scarcity means there are not enough resources to meet all of our wants or needs. Because of limited resources consumers must make economic decisions based on scarcity.
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Who was the first African American woman who start her own beauty product business with only a few dollars and become a millionaire?
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Madam C. J. Walker
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What do you call a person who starts a new business, hoping to make a profit?
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Entrepreneur
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What are the 3 basic ideals that Americans share?
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1. Freedom of Speech
2. Freedom of Religion 3. Freedom to live and work where we choose. |
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What does "E. Pluribus Unum" mean in english?
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Out of many, one.
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Why is "E. Pluribus Unum" a good motto for the US?
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Because a variety of people from 13 different states were coming together to form one country. (Out of many, one.)
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Why do immigrants continue to come to the United States?
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They continue to come to America because this is the land of opportunity and liberty.
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What type of government is it when all the voters in a community get together to make decisions about what their government should do?
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A direct democracy
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What is the difference between a direct democracy and a republic?
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In a direct democracy all the voters get together to make decisions and in a republic the people elect representatives to make the laws and run the government.
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What year was the US Constitution written?
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1787
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Who was famous for saying "And so, my fellow Americans-ask not what your country can do for you-ask what can you do for your country?
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President John F. Kennedy in 1961.
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Who was the president of the US from 1861 to 1865?
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Abraham Lincoln
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How did Abraham Lincoln describe the government as?
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He described the government as "of the people , by the people, and for the people."
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Why are the words "We the People" a good beginning to the Constitution?
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Because the Constitution sets up a government that is run by the people.
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