CAB Unit 1 Review

Businesses that overcharge customers and have questionable business practices are

Percentage by which the average level of prices in an economy rises

About how many years did the Great Depression last?

Guidelines businesses create to enforce their own workplace and environmental standards

The problem of unlimited wants and limited resources affects most people.

The main source of income for governments

The Equal Pay Act requires that men and women be paid the same amount for doing the same work

The government agency that sets health and safety rules for workers is the

Gross domestic product, inflation, and unemployment are examples of what?

What problem does inflation cause for people, even those who have good jobs?

Which of the following is an example of a capital resource?

All the money a government owes is called

People who start up new businesses are considered

For the most part, public wants are satisfied by

A business needs goods and services to produce other goods and services.

General decrease in the cost of goods and services

Measure of how well the people in an economic system live

As the auto industry expands it will have a higher rate of unemployment

People who contribute physical and mental energy to the production process

A period of economic expansion following a recession

Wants of an individual family, business, or group

Initiative to combine natural, human, and capital resources to produce goods or services

Spending decreases, fewer goods/services are demanded, unemployment rises

Economic resources that are used to produce goods and services

Every time you buy a good or service, you are supporting the company that produces it.

Federal agency that protects the environment

Only poor countries experience scarcity.

An economic system that can provide people's basic needs will have a high standard of living.

The purchasing power of money is reduced by

From which language did the word “Ketchup” come?

Oil is an example of a capital resource.

Economic indicators are used to measure how well a business is doing.

Human resources are also called

Sweatshops are an example of ethical business practices.

Which is a want that government can satisfy?