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Seven Goals of Economic Systems and the US Free Enterprise System Flashcards | StudBud
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Seven Goals of Economic Systems and the US Free Enterprise System
Seven Goals of Economic Systems and the US Free Enterprise System
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Review of goals of the US and other economic systems: Normal Video Intro:
Flashcards
13 cards
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Questions
13
Answers
1
An economy is said to grow when it produces more and better goods and services.
Economic Equity
Economic Freedom
Economic Growth
Economic Freedom
2
The ability to make our own economic decisions without interference from the government.
Economic Security
Economic Freedom
Economic Efficiency
Economic Growth
3
Congress voting to overturn the Affordable Healthcare Act is an example of not meeting the goal
of Economic Security
of Economic/Price Stability
of Economic Freedom
of Economic Equity
4
President Trump's passage of steel & aluminium tariffs will hurt this goal
Economic Equity
Economic Security
Economic/Price Stability
Economic Growth
5
President Trump eliminating regulations is an example of promoting the goal of
Economic Efficiency
Economic Security
Economic Equity
Economic Freedom
6
Getting the maximum output from resources or inputs used to produce goods and services.
Economic Freedom
Economic Efficiency
Economic Equity
Economic Growth
7
Goods & services we count on are there when we want them & their prices do not fluctuate.
Economic Security
Economic Freedom
Economic Equity
Economic/Price Stability
8
President Trump's tariffs on solar panel will hurt this economic goal in the United States
Economic Security
Economic Growth
Economic Freedom
Economic Equity
9
The US unemployment rate of 4.3% is an example of this goal being met.
Economic Freedom
Economic Equity
Full Employment
Economic Growth
10
This goal means that the basic needs of every person should be met.
Economic Security
Economic Freedom
Economic Freedom
Economic Equity
11
Michelle Williams being paid $80 a day for a reshoot & Mark Walhberg $1.5 mill. is an example
of not meeting the goal of Economic Equity
of not meeting the goal of Full Employment
of not meeting the goal of Economic Growth
of not meeting the goal of Economic/Price Stability
12
Means that almost all people in the labor force are able to find work.
Economic Freedom
Full Employment
Economic Equity
Economic Growth
13
This goal involves the fair and just distribution of a society’s wealth.
Economic Freedom
Economic Freedom
Economic Security
Economic Equity
