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Term1/19
What is the amount of a good or service that a consumer is willing to buy called
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.

Term1/19
Which axis of a graph will always run vertically from the bottom to the top of the page
Definition1/19

The y axis always runs vertically.

Term1/19
Under this economic theory the government does not get involved in the economy
Definition1/19

Laissez-Faire

Term1/19
The economic policy of John Maynard Keynes called for government assistance so there could be full employment
Definition1/19

true

Term1/19
In which direction does the demand curve on a graph slant
Definition1/19

Downward left to right

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
Definition1/19

Agriculture

Term1/19
The Bureau of Land Management of this department manages over 300 million acres of public lands
Definition1/19

interior

Term1/19
Regulates securities and other financial market investments
Definition1/19

SEC

Term1/19
What do the inner arrows of the circular flow model represent
Definition1/19

flow of money payments(Kaylop)
Factor services ( From household to firms) &

Goods & Services (From firms to households).

[in a 2 sector economy)

Term1/19
In which direction does the supply curve slope from the left to the right
Definition1/19

upward

Term1/19
The financial management service is the bookkeeper for the federal government and is managed by this department
Definition1/19

treasury

Term1/19
This department promotes American interests in foreign trade maintaining a network of offices that report on the business activity in foreign nations
Definition1/19

COMMERCE{:

Term1/19
Keynes did not support the New Deal programs
Definition1/19

False

Term1/19
Only one person is liable if the business fails
Definition1/19

proprietorship

Term1/19
What department operates US Custom Service that collects duties on imports combats smuggling and other international crimes
Definition1/19

Treasury

Term1/19
Supply creates a demand
Definition1/19

False(Kaylop)

Term1/19
Consumers create construct or offer goods and servies for sale to a consumer
Definition1/19

false

Term1/19
What is the historical economic role of the government includes all of the following except
Definition1/19

quien sabe!

Term1/19
This department operates the Bureau of Mines which conducts reports on mining techniques.
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.

Interior

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