What is the amount of a good or service that a consumer is willing to buy called
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Definition1/19
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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Term1/19
Which axis of a graph will always run vertically from the bottom to the top of the page
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Definition1/19
The y axis always runs vertically.
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Term1/19
Under this economic theory the government does not get involved in the economy
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Definition1/19
Laissez-Faire
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Term1/19
The economic policy of John Maynard Keynes called for government assistance so there could be full employment
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Definition1/19
true
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Term1/19
In which direction does the demand curve on a graph slant
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Definition1/19
Downward left to right
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Term1/19
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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Definition1/19
Agriculture
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Term1/19
The Bureau of Land Management of this department manages over 300 million acres of public lands
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Definition1/19
interior
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Term1/19
Regulates securities and other financial market investments
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Definition1/19
SEC
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Term1/19
What do the inner arrows of the circular flow model represent
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Definition1/19
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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Term1/19
In which direction does the supply curve slope from the left to the right
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Definition1/19
upward
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Term1/19
The financial management service is the bookkeeper for the federal government and is managed by this department
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Definition1/19
treasury
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Term1/19
This department promotes American interests in foreign trade maintaining a network of offices that report on the business activity in foreign nations
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Definition1/19
COMMERCE{:
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Term1/19
Keynes did not support the New Deal programs
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Definition1/19
False
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Term1/19
Only one person is liable if the business fails
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Definition1/19
proprietorship
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Term1/19
What department operates US Custom Service that collects duties on imports combats smuggling and other international crimes
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Definition1/19
Treasury
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Term1/19
Supply creates a demand
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Definition1/19
False(Kaylop)
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Term1/19
Consumers create construct or offer goods and servies for sale to a consumer
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Definition1/19
false
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Term1/19
What is the historical economic role of the government includes all of the following except
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Definition1/19
quien sabe!
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Term1/19
This department operates the Bureau of Mines which conducts reports on mining techniques.
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Definition1/19
Interior
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Cards in this guide (19)
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
The economic policy of John Maynard Keynes called for government assistance so there could be full employment
true
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
The Bureau of Land Management of this department manages over 300 million acres of public lands
interior
Regulates securities and other financial market investments
SEC
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)
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
This department promotes American interests in foreign trade maintaining a network of offices that report on the business activity in foreign nations
COMMERCE{:
Keynes did not support the New Deal programs
False
Only one person is liable if the business fails
proprietorship
What department operates US Custom Service that collects duties on imports combats smuggling and other international crimes
Treasury
Supply creates a demand
False(Kaylop)
Consumers create construct or offer goods and servies for sale to a consumer
false
What is the historical economic role of the government includes all of the following except
quien sabe!
This department operates the Bureau of Mines which conducts reports on mining techniques.