Civics/Econ Ch19 The American Economy

The main economic and social goals listed in the chapter were determined by:

Which of the following are components that make up capital:

Which of the following are reasons why GDP is important to you:

The money income that a person has left after taxes is called:

A characteristic of capitalism is __, the act of buyers & sellers taking part in transactions:

In laissez-faire economics, the government's role is:

In a ______ economy, a central authority makes most of the WHAT, HOW, and FOR WHOM decisions:

The factors of production are:

Gross Domestic Product (GDP) is:

The author of The Wealth of Nations was:

A ________ economy has five important characteristics:

Consumers earn their income in:

_______ can improve productivity

When government seeks to protect people from adverse economic events, it is trying to achieve:

A group providing information/warn about local businesses that could be dishonest:

The main drawback of the traditional economy is that it:

Capital goods are:

Some of the characteristics of capitalism are:

One advantage of a _____ economy is that it gradually adjusts to change over time.

Human effort can be separated into two different categories: