What is the amount of a good or service that a consumer is willing to buy called
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Definition1/18
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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Term1/18
Which axis of a graph will always run vertically from the bottom to the top of the page
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Definition1/18
The y axis always runs vertically.
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Term1/18
Under this economic theory the government does not get involved in the economy
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Definition1/18
Laissez-Faire
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Term1/18
This type of graph is excellent for showing business cycles
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Definition1/18
line graph
The most preferred type of graph to use for change over time is the line graph.
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Term1/18
In economic terms what does market mean
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Definition1/18
the coming together of a buyer and seller
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Term1/18
What type of tax is placed on the value of inherited property
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Definition1/18
inheritance
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Term1/18
What is the subject on which a tax is levied
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Definition1/18
tax base
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Term1/18
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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Definition1/18
Agriculture
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Term1/18
What type of tax is imposed on all real and personal property of a deceased person
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Definition1/18
estate (A+)
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Term1/18
In which direction does the supply curve slope from the left to the right
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Definition1/18
upward
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Term1/18
The financial management service is the bookkeeper for the federal government and is managed by this department
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Definition1/18
treasury
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Term1/18
On a graph what are the labels for the axes and the name called
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Definition1/18
titles
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Term1/18
If supply exceeds demand for a product what economic explanation occurs
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Definition1/18
prices decrease
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Term1/18
Depreciation is a very important economic problem and needs to be used in accounting for what purpose
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Definition1/18
all of these
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Term1/18
Which of these produces money in the form of rent
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Definition1/18
land
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Term1/18
What department operates US Custom Service that collects duties on imports combats smuggling and other international crimes
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Definition1/18
Treasury
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Term1/18
A certain producers business is to collect sterilize add seltzer and redbottle water after doing this how can the water be classified
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Definition1/18
economic question
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Term1/18
Consumers create construct or offer goods and servies for sale to a consumer
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Definition1/18
false
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Cards in this guide (18)
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.
Which axis of a graph will always run vertically from the bottom to the top of the page
The y axis always runs vertically.
Under this economic theory the government does not get involved in the economy
Laissez-Faire
This type of graph is excellent for showing business cycles
line graph
The most preferred type of graph to use for change over time is the line graph.
In economic terms what does market mean
the coming together of a buyer and seller
What type of tax is placed on the value of inherited property
inheritance
What is the subject on which a tax is levied
tax base
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
What type of tax is imposed on all real and personal property of a deceased person
estate (A+)
In which direction does the supply curve slope from the left to the right
upward
The financial management service is the bookkeeper for the federal government and is managed by this department
treasury
On a graph what are the labels for the axes and the name called
titles
If supply exceeds demand for a product what economic explanation occurs
prices decrease
Depreciation is a very important economic problem and needs to be used in accounting for what purpose
all of these
Which of these produces money in the form of rent
land
What department operates US Custom Service that collects duties on imports combats smuggling and other international crimes
Treasury
A certain producers business is to collect sterilize add seltzer and redbottle water after doing this how can the water be classified
economic question
Consumers create construct or offer goods and servies for sale to a consumer