U.S. History Final Review: Economics and Government

Question 1

In which article is the Legislative branch set up?

Accepted Answer

I

Question 2

The best option given up

Accepted Answer

Opportunity Cost

Question 3

Which branch can legally shut down an executive action?

Accepted Answer

Judicial

Question 4

Natural resources used for producing goods and services

Accepted Answer

Land

Question 5

Which branch controls the military?

Accepted Answer

Executive

Question 6

The point at which supply and demand meet

Accepted Answer

Equilibrium

Question 7

Which branch of the federal government is responsible for creating laws?

Accepted Answer

Legislative

Question 8

Which branch of the federal government is responsible for interpreting laws?

Accepted Answer

Judicial

Question 9

Which branch has the power of judicial review, or determining if a law is constitutional?

Accepted Answer

Judicial

Question 10

The Law of demand states that as prices go up, demand goes ______________.

Accepted Answer

down

Question 11

Goods or services that are used in place of one another

Accepted Answer

Substitutes

Question 12

Which branch has the power of the veto?

Accepted Answer

Executive

Question 13

What is the "supreme law of the land" in the United States?

Accepted Answer

The Constitution

Question 14

Which branch has the "power of the purse"?

Accepted Answer

Legislative

Question 15

What is the opening of the Constitution called?

Accepted Answer

Preamble

Question 16

Two goods or services that are used together

Accepted Answer

Complements

Question 17

In which article is the Executive Branch set up?

Accepted Answer

II

Question 18

Which branch of the federal government is responsible for enforcing laws?

Accepted Answer

Executive

Question 19

Limited goods to meet unlimited wants

Accepted Answer

Scarcity

Question 20

The Law of Supply states that as prices go up, supply goes

Accepted Answer

up

Question 21

Which branch has the power to declare war?

Accepted Answer

Legislative

Question 22

The amount of a good or service that is available

Accepted Answer

Supply

Question 23

The desire to own something and the means to pay for it

Accepted Answer

Demand

Question 24

In which article is the Judicial Branch set up?

Accepted Answer

III

Question 25

Resources used to make goods and services

Accepted Answer

Factors of Production

Question 26

Effort that people produce to receive payment

Accepted Answer

Labor

Question 27

The study of how people seek to satisfy their needs and wants by making choices

Accepted Answer

Economics

Question 28

Comparing the pros and cons of a decision to determine the best option

Accepted Answer

Cost/Benefit Analysis

Question 29

A situation in which demand is greater than quantity supplied

Accepted Answer

Shortage

Question 30

Giving up one thing for another

Accepted Answer

Trade-off

U.S. History Final Review: Economics and Government

Questions 30

U.S. History Final Review: Economics and Government

Questions 30