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CE12: The United States Economy Flashcards | StudBud
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CE12: The United States Economy
CE12: The United States Economy
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Questions
14
Answers
1
Private Property is the right to own real and _____________ property.
financial
personal
fake
2
What are the 3 types of businesses?
Proprietorship, Partnership, and Corporation
Proprietorship, Partnership, and Industrial
3
Technology is important to international trade.
TRUE
FALSE
4
Private Financial Institutions help facilitate money between
savers and borrowers
Banks and Credit Unions
5
What do businesses buy from individuals?
resources
time
Income
6
Rivalry between producers and sellers results in
Arguements
Competition
7
What is determined by the interaction of supply and demand?
Price
Quality
8
The point where supply and demand meet?
The main point
Equilibrium Price
Lower Price
9
Consumers will buy MORE if it is at a lower price?
FALSE
TRUE
10
The amount of a good or service that
consumers
are willing and able to
buy
is _______________
Supply
Demand
11
Who owes resources?
Households
Businesses
12
Why do we trade all over the world?
To obtain goods and services we can't not produce
To create jobs
To buy goods and services at a lower price
All are correct
13
Banks and Credit Unions receive
payments and make deposits
deposits and make loans
14
The amount of a good or service that
producers
are willing to make is _____________.
Supply
Demand
