NAME: ________________________

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of 51 available terms

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5 Written Questions

5 Matching Questions

  1. check kiting
  2. Jim Letter
  3. PRC
  4. contract
  5. negative externality
  1. a an agreement between two or more people to do something
  2. b an adverse side effect of an act that is felt by others
  3. c who is the U.S. district attorney
  4. d writing yourself a check from one account to the other
  5. e Performance Review Commitee

5 Multiple Choice Questions

  1. to take offense
  2. the amount of money by which total cost exceeds total revenue
  3. a public good that individuals can be excluded (physically prohibited) from consuming
  4. any good that is owned by an individual or a business
  5. the economic relationship between different economic groups in an economy

5 True/False Questions

  1. traditional economyan economoy that is neither purely capitalist nor purely socialist


  2. mission creepthe idea that you go in for one reason (usually military force) and is diverted into another reason that was not planned for


  3. public propertyany good that is owned by the government


  4. ross perotthe amount of money by which total cost exceeds total revenue


  5. socialisman economic system in which government controls and may own many of the resources


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