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ECON SEMESTER 2 FINAL Flashcards | StudBud

Explore/ECON SEMESTER 2 FINAL

ECON SEMESTER 2 FINAL

8 terms·StudBud Administration·14 plays

econ final study guide

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Questions 8

Answers

1
What is the message of this video ?
economic equilibrium
socialism
New Deal
laissez-faire
2
What does image portray ?
neccesity
utility
benefit
amenities
3
What does this image portray ?
profit
supply & demand
scarcity
utility
4
What is this an example of ?
deficit
incentives
profit
opportunity cost
5
What does this image mean ?
supply&demand
regulation
entrepreneurship
opportunity cost
6
What does progressive income tax do that federal income tax doesn't do ?
Take $ to use for schools,roads,etc.
Take away $ from people who have a higher income
$ that you get back from working so hard
Take $away from low income individuals
7
Private property is the ownership of property by non-government people.
FALSE
TRUE
8
What can I do to ensure I stay out of debt ?
Get another loan to pay your loans
Ask your parents to borrow their credit card
Make payments on time
Don't do anything at all