What is the amount of a good or service that a consumer is willing to buy called
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Definition1/16
Demand is considered what consumers are willing and able to buy.
If the product or service is too expensive, then people won't buy
it because they can't afford it and there will be no demand. If
it's affordable but people don't see the use, they still won't buy
it and there will still be no demand. In order to create demand, a
product has to be both useful and affordable. The more useful and
affordable it is, the more demand there will be.
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Term1/16
What role do businesses that go to the market play in the circular flow model
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Definition1/16
Businesses go to the market to sell their product.
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Term1/16
In socialism but not in communism the government plays a strong role
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Definition1/16
False! false
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Term1/16
This type of economics addresses the question what is
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Definition1/16
Pure economics addresses this question.
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Term1/16
In which direction does the demand curve on a graph slant
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Definition1/16
Downward left to right
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Term1/16
In this department the Food Safety and Inspection Service inspects food and meat processing plants to make sure the products are safe for consumers
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Definition1/16
Agriculture
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Term1/16
Which of these should happen in order for a country to increase capital effectively
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Definition1/16
More money invested and/or saved.
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Term1/16
Why do small banks in remote locations sometimes become a subsidiary of a larger bank
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Definition1/16
To offer more services to the general puclic
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Term1/16
What do the inner arrows of the circular flow model represent
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Definition1/16
flow of money payments(Kaylop) Factor services ( From household to firms) &
Goods & Services (From firms to households).
[in a 2 sector economy)
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Term1/16
The financial management service is the bookkeeper for the federal government and is managed by this department
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Definition1/16
treasury
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Term1/16
Only one person is liable if the business fails
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Definition1/16
proprietorship
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Term1/16
In the circular flow model economic resources is both production and the factors of production
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Definition1/16
true true
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Term1/16
What department operates US Custom Service that collects duties on imports combats smuggling and other international crimes
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Definition1/16
Treasury
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Term1/16
Which term applies to the choice to go to the big game means that you will not be able to use a free ticket to the rock concert
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Definition1/16
secondary effect
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Term1/16
Which group would be concerned with pollution of the river after cutting of the old forest
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Definition1/16
Environmentalists.
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Term1/16
Which tools does the government use to regulate and keeps banks from over extending themselves
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Definition1/16
Require assets
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Cards in this guide (16)
What is the amount of a good or service that a consumer is willing to buy called
Demand is considered what consumers are willing and able to buy.
If the product or service is too expensive, then people won't buy
it because they can't afford it and there will be no demand. If
it's affordable but people don't see the use, they still won't buy
it and there will still be no demand. In order to create demand, a
product has to be both useful and affordable. The more useful and
affordable it is, the more demand there will be.
What role do businesses that go to the market play in the circular flow model
Businesses go to the market to sell their product.
In socialism but not in communism the government plays a strong role
False! false
This type of economics addresses the question what is
Pure economics addresses this question.
In which direction does the demand curve on a graph slant
Downward left to right
In this department the Food Safety and Inspection Service inspects food and meat processing plants to make sure the products are safe for consumers
Agriculture
Which of these should happen in order for a country to increase capital effectively
More money invested and/or saved.
Why do small banks in remote locations sometimes become a subsidiary of a larger bank
To offer more services to the general puclic
What do the inner arrows of the circular flow model represent
flow of money payments(Kaylop) Factor services ( From household to firms) &
Goods & Services (From firms to households).
[in a 2 sector economy)
The financial management service is the bookkeeper for the federal government and is managed by this department
treasury
Only one person is liable if the business fails
proprietorship
In the circular flow model economic resources is both production and the factors of production
true true
What department operates US Custom Service that collects duties on imports combats smuggling and other international crimes
Treasury
Which term applies to the choice to go to the big game means that you will not be able to use a free ticket to the rock concert
secondary effect
Which group would be concerned with pollution of the river after cutting of the old forest
Environmentalists.
Which tools does the government use to regulate and keeps banks from over extending themselves