Generally speaking a mixed economy is one where the government
has controls over private industry through various types of
regulations. One example is the setting of the minimum wage. For
the most part a mixed economy does not require the government to
actually own any of the means of production. Also, a mixed economy
creates "authorities" to operate tunnels, bridges and airports.
🔄 Click to see term
Term1/16
What is a trade-off
🔄 Click to see definition
Definition1/16
A trade-off is an alternative that we sacrifice when we make a
decision.
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Term1/16
Price effect is a combination of income effect and substitution effect
🔄 Click to see definition
Definition1/16
Yes, Price effect = substitution effect + income effect
🔄 Click to see term
Term1/16
What is the income people receive for supplying factors of production such as land labor or capital called
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Definition1/16
They are called factor payments.
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Term1/16
How can population changes affect demand for certain goods
🔄 Click to see definition
Definition1/16
immediate demand for a good will go up if it's price is expected
to rise.
this is how population changes affect demand for certain
goods.
🔄 Click to see term
Term1/16
What is the effect of the interaction of buyers and sellers on a market
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Definition1/16
agreement on the price and quantity traded
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Term1/16
Addressing the goal of what provides assurance that goods and services will be available and payments will be made on time
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Definition1/16
equity
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Term1/16
Government programs that protect people experiencing unfavorable economic conditions are
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Definition1/16
Safety Net!
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Term1/16
Which economic goal does a society consider when deciding the best way to distribute its wealth
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Definition1/16
economic effiency
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Term1/16
In a traditional economy what are the economic decisions based largely on
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Definition1/16
Customs and traditions.
🔄 Click to see term
Term1/16
What is an example of scarcity rather than shortage
🔄 Click to see definition
Definition1/16
A person wants an endless supply of everything but cannot have
it.
🔄 Click to see term
Term1/16
Which of the following is most important characteristic of an entrepreneur
🔄 Click to see definition
Definition1/16
hard work and patience
🔄 Click to see term
Term1/16
What is a sentate in roman republic
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Definition1/16
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
🔄 Click to see term
Term1/16
Which occurrence could cause the demand curve for cars in your city to the left
🔄 Click to see definition
Definition1/16
A layoff of 500 workers at the city's airport could cause the
demand curve for cars in your city to the left.
🔄 Click to see term
Term1/16
Which is the government agency that covers customer deposits if a bank fails
🔄 Click to see definition
Definition1/16
Federeal Deposit Insurance Corporation (FDIC)
🔄 Click to see term
Term1/16
What is the money multiplier formula
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Definition1/16
The money multiplier formula is the amount of new money that will be created with each demand deposit, calculated as 1 ÷ RRR.
🔄 Click to see term
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Cards in this guide (16)
What is a mixed economy
Generally speaking a mixed economy is one where the government
has controls over private industry through various types of
regulations. One example is the setting of the minimum wage. For
the most part a mixed economy does not require the government to
actually own any of the means of production. Also, a mixed economy
creates "authorities" to operate tunnels, bridges and airports.
What is a trade-off
A trade-off is an alternative that we sacrifice when we make a
decision.
Price effect is a combination of income effect and substitution effect
Yes, Price effect = substitution effect + income effect
What is the income people receive for supplying factors of production such as land labor or capital called
They are called factor payments.
How can population changes affect demand for certain goods
immediate demand for a good will go up if it's price is expected
to rise.
this is how population changes affect demand for certain
goods.
What is the effect of the interaction of buyers and sellers on a market
agreement on the price and quantity traded
Addressing the goal of what provides assurance that goods and services will be available and payments will be made on time
equity
Government programs that protect people experiencing unfavorable economic conditions are
Safety Net!
Which economic goal does a society consider when deciding the best way to distribute its wealth
economic effiency
In a traditional economy what are the economic decisions based largely on
Customs and traditions.
What is an example of scarcity rather than shortage
A person wants an endless supply of everything but cannot have
it.
Which of the following is most important characteristic of an entrepreneur
hard work and patience
What is a sentate in roman republic
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
The senate in the Roman republic was a body of about 600 men whose duty was to debate public issues and if they could agree, pass resolutions that had the same effect as a law. They also served as jurors in high profile criminal cases.
Which occurrence could cause the demand curve for cars in your city to the left
A layoff of 500 workers at the city's airport could cause the
demand curve for cars in your city to the left.
Which is the government agency that covers customer deposits if a bank fails
Federeal Deposit Insurance Corporation (FDIC)
What is the money multiplier formula
The money multiplier formula is the amount of new money that will be created with each demand deposit, calculated as 1 ÷ RRR.