What is a regressive tax?

the higher the income, the lower the tax

What is a progressive tax?

the higher the income, the higher the tax

What is a proportional tax?

the tax is the same for everyone

What is a deregulation?

a rule taken out of circulation

What are the four factors of production?

land, labor, capital, and entrepreneurship

What is the relationship between risk and return?

the higher the risk, the higher the potential for return

studbud

SSEF1-6 and SSEPF1-3

25 termsStudBud Administration628 plays

Fundamentals and Personal Finance

Flashcards25 cardsFPractice quizPHost liveL

Questions 25

Answers

1
What can an investment in higher education lead to?
scarcity
higher standard of living
unemployment
new technology
2
Coupons and discounts are both
negative incentives
positive incentives
opportunity-cost
trade-offs
3
The correct order from most to least risky savings and investment option is
stocks, bonds, mutual funds
mutual funds, bonds, stocks
stocks, mutual funds,bonds
mutual funds, stocks, bonds
4
What is a regressive tax?
the lower the income, the lower the tax
the higher the income, the higher the tax
the higher the income, the lower the tax
the tax is the same for everyone
5
An investment in equipment and technology leads to
scarcity and shortage
trade-off
economic growth
opportunity cost
6
What is a progressive tax?
the higher the income, the lower the tax
the lower the income, the higher the tax
the tax is the same for everyone
the higher the income, the higher the tax
7
Which is NOT an economic question that each type of economic system answers?
What to produce?
When to produce?
How to produce?
For whom to produce?
8
Which economic system is represented when government is in total control?
command
mixed
market
traditional
9
What is a proportional tax?
the higher the income, the lower the tax
the higher the income, the higher the tax
the lower the income, the lower the tax
the tax is the same for everyone
10
Which financial institutions are the most similar
credit unions and payday loan companies
payday loan companies and savings and loans companies
credit unions and banks
banks and payday loan companies
11
Which is NOT a step in the rational decision-making model?
state your criteria
state the problem
consult another person
list the alternatives
12
What is a government regulation?
a rule taken out
redistribution of rules
a rule put in place
collection of all rules
13
Which economic system is represented when buyers, sellers, and government work together?
traditional
mixed
command
market
14
How many steps are there to the rational decision-making model?
4
2
3
5
15
What is an opportunity cost?
the next best alternative
the cost of something you chose
gaining something by giving up something
when unlimited wants exceed limited resources
16
What is a deregulation?
a rule put in place
redistribution of rules
a rule taken out of circulation
a collection of rules
17
When a company focuses on the production of a specific product, this is called
division of labor
trade-off
collaboration
specialization
18
What occurs when unlimited wants exceed limited resources?
scarcity
opportunity cost
trade-off
shortage
19
What are the four factors of production?
land, labor, capital, and entrepreneurship
scarcity, trade-off, shortage, and opportunity cost
water, gas, light, and heat
scarcity, incentives, interdependency, and gains from trade
20
What is net productivity?
Output X Input
Output/Input
Input - Output
Input/Output
21
Which economic system is represented when things are done like they have always been done?
command
market
traditional
mixed
22
Which economic system is represented when buyers and sellers are free to do as they please?
command
traditional
market
mixed
23
How many options are shown on a Production Possibilities curve?
1
2
4
3
24
What is the relationship between risk and return?
the lower the risk, the higher the return
the higher the risk, the higher the potential for return
the higher the risk, the lower the return
the higher the risk, the higher the return
25
Parking tickets and fines are both
opportunity costs
trade-offs
positive incentives
negative incentives

SSEF1-6 and SSEPF1-3 Flashcards | StudBud