Economics SOL Review

What is being described in this graphic

The _______ economy is a worldwide market where nations buy and sell goods/services

Which of the following is a reason why Nations trade

Complete this circular flow diagram

A goal of the Federal Reserve is to

Supply and Demand determine

_________ ________ oversee the way individuals and companies do business

Which phrase best completes the title of the flow chart

The ________ Amendment gives Congress the power to tax

What are the earnings a business has left over after all expenses have been paid

Who has the most influence in a FREE MARKET economy

These are referred to as public services because

The United States government encourages competition by

What is the best action the government can take to increase the amount of money for businesses

This is an example of how the United States takes part in

This cartoon shows that a function of the Fed is to act as

This candidate supports the removal of

What gets exchanged between businesses,government and individuals in the circular flow model

This economic term states that an economy will produce what the people want it to produce

What you give up when you make a choice is called

The combining of  resources to make a good or service is called

Which economic system is being described

Innovations in technology have led to

______is the inability to satisfy all your wants at the same time because resources are limited

Which economic systems are being shown

Which action represents a way the government can promote business competition

Private Financial Institutions receive __________ and make _____________

What type of business is best described by these statements

All of the following describe a public good or service EXCEPT

Looking at the graphic, what would best replace the question mark

Tax money paid by individuals and businesses is used to provide 

The _____________ promotes and regulates competition

What would will happen if a slice of pizza decreases from $2.50 to $1.00

A country's economic system is determined by the level of ________ involvement

The government has agencies like the FTC,FCC and EPA to

A discount is a form of 

What does the government do that influences economic activity

What term describes a company that is authorized to act as a single person

_____ is rivalry between businesses that results in better quality goods at lower prices

Which of the following is a public good/service

Which action will the government take if it needs more money

An entrepreneur is a person who-

Select what the Federal Reserve does with our economy