Money Language

Why is China’s economy considered more mixed than North Korea’s?

Why do markets exist?

What are two examples of economic goals?

What are the three basic economic questions?

economy

consumer

Does improved technology help the GDP?

any form of deferred payment

A fee paid by a borrower to the lender for the use of borrowed money

Why is the United States considered to have a mixed economy that tends toward the free market?

How do government actions positively affect the product market?

What is one reason that governments have become involved in otherwise market-based economies?

interest is bad

most cases this includes repayment ofthe original loan amount plus interest

personal finance

High employment, steady growth, and stability are economic goals of who?

An obligation of repayment owed by one party

Who does the government mostly purchase services from?

Knowledge and skill set necessary to be an informed consumer and manage finances effectively

Why do government experts track the business cycle?

What is the role of firms in the free market economy?

What does competition among producers in a free market accomplish for consumers?

GDP?

Why does the government place some limits on the freedom of businesses?

loan