Econ Basics & Presidential Powers

President Trump fired his Secretary of Defense which is an example of what power?

The tools (tools, money, buildings) that people use to produce goods and services

If you worked at a car factory you would be a

How does the president exercise his legislative power over the Congress?

An item that satisfies an economic need or want.

something performed by another person which satisfies an economic need or want

President Trump introducing a new pathway to peace b/t the Israelis and Palestinians is him exercising which power?

The knowledge and skills people use to produce a good or service

After the production process the next two steps IN ORDER are ____ and ____.

Macroeconomics is to a hotel as Microeconomics is to the

What kind of an economy do we have in the United States?

When resources are limited but wants are unlimited, this produces...

Using money to help start a business with the hope of turning a profit is known as what?

People will make a choice only if ...

I have to make a choice of how to spend my money, The thing I do not pick is called the

The work that people do

What is the difference between a treaty and an executive agreement (EA)?

An example of a renewable natural resource is what?

The resources necessary in the want/need satisfaction chain are known as...

Congress is adjourned. President doesn't sign a bill, the bill is then rejected without signing

The difference between the total cost of production and total revenues received from buyers.

People who start a business

Several presidents have tried to prevent info from being shared with Congress or the courts. This is using ____.

Natural Resources

Who does the President share military powers with?

Which of the following is NOT one of the three basic economic questions?

Granting a pardon is the President using which power?

When you go to buy a car you are a