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;
46 Cards in this Set
- Front
- Back
|
Quantity of goods and service products |
Gross domestic product |
|
|
A recession must occurs if the real GDP goes down for how long |
6 months |
|
|
the human capital be improved if workers gain? |
Education, training, and experience |
|
|
Which agency would recall a defective baby car seat? |
Consumer product safety commission |
|
|
Which act bans monopolies |
Sherman antitrust act |
|
|
An electric company that serves an entire state is an example of a? |
Natural monopoly |
|
|
What happens if you write a check for a greater amount in you checking account |
You will get charged a fee |
|
|
To keep track of inflation, the government uses what |
Consumer price index |
|
|
In 2009, how many people lived in poverty in the U.S. |
44 million |
|
|
A decrease in consumer demand is an example of what |
Supply of product decease |
|
|
What is a human resource |
Knowledge |
|
|
What consumer right protects the consumer from being left out of the law writing process |
The right to be heard |
|
|
Public goods are paid for by the government to encourage |
Positive externalities |
|
|
Which of the following gives you a set rate of interest, depending on the amount of time you keep your money in the account |
Certificate of deposit CD |
|
|
Example of entrepreneur |
Restaurant owner |
|
|
Nations experience economic growth when their ______ |
Total output of goods and services increase |
|
|
The loss of 4 years of income resulting from the decision to go to collage is the |
Opportunity cost |
|
|
Choosing to buy a DVD player instead of something else is an example of what |
A trade off |
|
|
After making a budget and analyzing your data you decide that you can afford to buy a new bicycle. Your budget probably should that you had a _____ |
Surplus |
|
|
Vacations, game systems, etc. I'd and example of what |
A want |
|
|
Requires a full understanding of the arp is an example of what? |
Responsible credit card use |
|
|
Spending more than you can afford by using easy available credit is an example of what |
Drawback of having credit |
|
|
If 20 bottles are sold for $2.00 each, what is the total revenue |
$40.00 |
|
|
Sidewalks, hospitals, traffic lights are an example of what |
Public goods |
|
|
The flu shot campaign may be started by who |
Cdc- center of disease control |
|
|
If you own stocking a company and the company does well the stock will do what? |
Go up |
|
|
The choices all societies must make about production are driving by what |
Scarcity |
|
|
Monopolies are _______ |
Prohibited by the antitrust laws |
|
|
Is the gdp is higher than it was in the previous years due to increased output what has happened |
The economy has grown |
|
|
People have the freedom to choose from a variety products is an example of what? |
Characteristics of a market economy |
|
|
If a borrower fails to repay a loan, a lender can do what |
Takes the borrowers collateral as payment |
|
|
Economy expansions are usually longer than what |
Recessions |
|
|
A person who loans someone money to buy an item is called what |
A lender |
|
|
A careful record of all the money you earn and spend is called what |
A budget |
|
|
One purpose of saving mo eu is to? |
Collect enough to money for a major purchase |
|
|
A person is lending money to a company or government when buying? |
A bond |
|
|
Which country has the worlds largest economy |
United States |
|
|
A country is experiencing economic growth when what happens |
The gdp goes up |
|
|
Which feature of capitalism is at work when buyers and sellers freely and willingly engage in market transactions? |
Voluntary exchange |
|
|
Haircut, medical exams, police security is an example of what |
Service |
|
|
Specialization helps improve because it allows business to do what |
Do as on what they do best |
|
|
You _____ is the money you earn from all sources and your _____ are the money you choose to spend |
Income and expenses |
|
|
If you wanted to be sure your money remain completely safe where would you put it |
Savings account |
|
|
Individual who starts a business or introduces a new product |
Entrepreneur |
|
|
Businesses may compete with out government interference is an example of what |
Free enterprise |
|
|
Customers have a responsibility to do what |
Comparison shop |
