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Mason Economics and Government Flashcards | StudBud
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Mason Economics and Government
Mason Economics and Government
30 terms
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StudBud Administration
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Review for Economics and Government CA
Flashcards
30 cards
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Practice quiz
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Host live
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Questions
30
Answers
1
George Washington was elected President of America in 1800 is
An opinion
A fact
2
Opinions use words like
All of these
I believe
in my view
I think
3
Financial literacy is
skills that allow people to spend money
skills that allow people to make informed decisions when making a purchase
4
To me, Jet's is the best pizza in Mason
Not reliable
Fact
an opinion and not reliable
Opinion
5
Primary Sources are reliable sources of information
True
False
6
A statement of fact can be checked for accuracy
False
True
7
The desire and capability of sellers to make things for purchase is called
Supply
Demand
8
The form of government that is lead by a religious leader with or without other government officials
Theocracy
Monarchy
Dictatorship
Democracy
9
Artifacts, eyewitness reports and official records are
Can be an interpretation
Primary sources and are reliable
Summaries of information
Secondary and reliable
10
A bias is a prejudice that a person may have
False
True
11
In a market, the supply of products is affected by
consumers
the government
producers
both producers and consumers
12
A Surplus is an excess of production or supply
False
True
13
Comparison shopping is evaluating price and quality of an item before buying it
True
False
14
The form of government which is ruled by one person and isn't concerned with the people is
Dictatorship
Monarchy
Democracy
Theocracy
15
Scarcity is when something needed is not available in sufficient amounts
True
False
16
Peppermint stick ice cream is the best flavor is a fact
False
True
17
It is not possible to be economically independent because
Both of these answers
None of these answers
One economy cannot produce everything that is needed
natural resources are not evenly distributed
18
A fact and an opinion are the same thing
False
True
19
As the price goes down, the demand will
will rise
stay the same
both of these
none of these
20
The form of government that has a king or queen who rules with or without other government officials
Monarchy
Democracy
Dictatorship
Theocracy
21
Demand is affected by
producers
the government
both producers and consumers
consumers
22
As the price of a good or service increases, supply increases
False
True
23
A source is credible when
All of these
It proves to be true when checked out
It can be verified
It is written by an authority on the subject
24
The standard of something measured against things of a similar kind is
price
rip off
quality
an opinion
25
The desire and capability to purchase things is
Supply
Demand
26
The Law of Demand is as the price of a good or service goes up
demand goes up
demand stays the same
None of these
demand goes down
27
The form of government in which power is obtained through election by the people is
Theocracy
Monarchy
Democracy
Dictatorship
28
Economic interdependence means
Depending on only your economy to meet needs
Nothing. It is a made-up word
Not possible in the real world
Depending on others to meet needed resources or products
29
Textbooks, web pages and newspaper articles are
interpretations, of primary sources
None of these
Both of these
one step removed from the event
30
Final price in a market is determined by
producers
both producers and consumers
the government
consumers
