Benchmark Study Guide

Amount of goods people are willing to buy

$$$- Taxes/Expenses=______

Inability to satisfy all wants at the same time.

Owned by two, risks and profits split

What is approved borrowed money from banks and credit unions?

Which Economy? Based on TRADITION, culture, and history.

Federal Reserve regulates banks to keep what safe?

Power of the buyers to determine what is produced and consumed?

Which Constitutional Amendment lets the Gov't collect an income tax?

Combining resources to make goods and services.

What are these called?- What will be produced? Who will produce it? For who is it produced for?

Laws designed to prevent monopolies

Acts as a legal person, limited liability, STOCKS

What do you do when you give money to the bank?

When the Government raises taxes, ______.

Amount of goods producers are willing to make.

Central Bank of the whole U.S.

Owned by one, owner takes all risks

Buying and selling goods around the world is he definition of ______.

Specializing in the production of certain goods and services ________.

The Federal Reserve tries to keep money in the ___.

Which agency controls communications such as Radio and TV?

WHICH ECONOMY? --Central Planning, Government, Ownership of Resources, No Choice

Looking into your abilities before you begin a career.

Best NFL team.

Materials used during production

Why does our government issue money?

Lower Prices, better quality, more choices- These are a result of what?

Advancements in tech .......

What wouldn't be provided if an individual had to provide it?

How can companies lower production cost?

We do what to increase wealth and occupations?

Very Little to no Gov't, Competition, Private Ownership, Full Choice

When the government lowers taxes, ________

Who do banks and credit unions bring together?

Money exchanged for a product; determined by supply and demand

A person who takes a risk in order to benefit from a profit

Use resources to create income and buy products

Education, Age, Experience, Supply, Demand, etc. influence ____.

Selecting an item or alternatives to other ______.

The U.S. tries to maintain value of this.

Value of what is given up when a choice is made is called what?

Buying and using goods and services.

These are the result of _____: lower priced items, items we cannot produce.

Employees seek people who ____ with tech.

Another word for money

Buy resources, make products

Strong work ethic means you have good ___.

How does the government pay for public items?

Protected by the law

What do banks pay on deposits to encourage saving?

Sales, Buy One Get One Free, 5% interest added per year

Gov't keeps this low

What determines the type of economy a country has?

Gov't agency guidelines establish protection for what?

Which agency protects the environment?

Which are ways the government promotes competition?

Which agency protects others from losing money from advanced stockholders?

What invention most contributes to the growth of trading?

Federal Reserve Notes, Dollars, Checks, Credit, Debit, Savings

Protects people from scams and false contracts, this describes which agency?

Movement Of money, resources, goods, services, etc.

What are these examples of; Roads, Mail Offices, Navy and Army, Education?

What do individuals and businesses have the right to own?

Which Economy?-- Business, Individuals, and Government Involvement, Choices

Eli will fall later.

Synonym of currency

Banks, Credit Unions, Savings/Loans

These are useful to protect producers, consumers, and buyers.

Rights are violated, you take what?

Use tax revenue to provide public goods/services