Eco Final Exam Review

The Census is taken every

When people willingly trade in the marketplace, it is called

The four factors of production are land, entrepreneurship, labor

A business model in which one part may not be subject to legal liability is called a

If Bush's Chicken and Cane's Chicken merged, it would be called a

When quantity supplied exceeds quantity demanded, it is called

Money loses  value when it is

What controls the money supply and interest rates?

The economic system of the United States is

If a car manufacturer buys a tire company, it is called a

An example of commodity money is

The sequence for the approval of the federal budget is

What is an immediate effect of inflation?

To ensure stablility of banks, the US government created the

Materials used in creating wealth or products of a business are called

Which is not a feature of taxation?

The most common form of business in the US is the

When quantity demanded equals quantity supplied, it is called

The part of the economy that includes consumers and businesses is the

When necessary items have less value than unnecessary items, it is called