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Q4 Civics Benchy Flashcards | StudBud
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Q4 Civics Benchy
Q4 Civics Benchy
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1
Savings account....positives EXCEPT
easy daily access
save for future
earn interest
likely not waste
2
Equilibrium. where supply and demand intersect
False
True
3
Negative of a payday loan?
high interest rate
get money asap
may be close to a casino
closed at weekend
4
Coke and Pepsi
Compternative
Alternative
Complimentary
PB and J
5
Oligopoly
many options
mostly communist nations
basically a monopoly
limited options, but more than one.
6
Output results from a given amount of input over certain period of time.....
Profit
GDP
Productivity
production line
7
Which is not a type of economy
traditional
market
Co-Ordinated
Mixed
8
Large demand for a product....what likely happens to its price?
equilibrium shift
stays same
goes down
goes up
9
Peanut butter and Jelly. Alternative products?
True
False
10
A product price goes down, what happens to supply?
up
way up
waaaaaaayyyyy up
decreases
11
Govt dual mandate. What are they trying to balance?
PB and J
Inflation and unemployment
import/export
domestic and foreign
12
medical doctor working as a nurse. Great example of?
underemployment
cultural diffusion
friendship
elasticity
13
Measure of a nations total wealth (output)
GNP
CNN
NAFTA
GDP
14
Command Economy
open market
Mixed market
old school traditions
Govt controlled
