5 Written Questions
5 Matching Questions
- Travelor's checks
- Sole Proprietorship
- Credit Cards
- Preferred stock
- a When an individual person or company has control over the producing and selling of a certain product or service.
Has an overall negative impact for consumers (buyers)
-consumers have less choice
-consumers may have to pay high prices
-quality of the good or service may not be good.
- b A special kind of check that represents money in a bank or large company. They are sold for face value with an extra fee, but they will be replaced if lost or stolen
- c Stocks that guarantee that stockholders will get dividends
- d A business owned by 1 person.
-70% of today's businesses are sole proprietorships, but they only make about 10% sales in today's economy
-Examples: small retail stores, doctor's office
- e Not true money! When you use a credit card, you are borrowing money from a company and will pay it back later
5 Multiple Choice Questions
- Takes ideas from communism and market economy and combines them.
Socialism supports that central planning from the government is needed and in public ownership of business like in a communist society. Socialist governments are democratic like in a market economy.
- Also called communism
Economic decisions are made by a central authority (like a king, powerful political party, or dictator). The government owns and controls all land and capital goods & decides what is produced, how its produced, and how much will be produced
- The object used for money is valuable because the government says so
- Shares of a company's profits paid to stock holders 2-4 times a year.
*This is one way to make money from investing in stocks
- Also called capitalism
Result of many people's buying and selling decisions. This type of economy is not run by anyone, it runs itself.
People are free to buy and sell what they please
5 True/False Questions
Totalitarianism → Government has total power over people
Mutual Fund → The object used for money is valuable because the government says so
Stock → Shares of ownership in a corporation
Securities → Guessing the price of stock prices
Money must be PORTABLE → Money must be easy to carry around