5 Written questions
5 Matching questions
- Savings Accounts
- a Shares of ownership in a corporation
- b Not true money! This is a way to store value and increase your wealth. Money in a savings account collects interest!
- c Guessing the price of stock prices
- d Checks represent money in a checking account that is stored at the bank. This type of money is representative
- e 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.
5 Multiple choice questions
- Government has total power over people
- The object used for money stands for something else that has value
- 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
- Not true money! When you use a credit card, you are borrowing money from a company and will pay it back later
- A certificate that a stockholder gets that shows the number of shares in a company that person owns
5 True/False questions
Legal entity → The father of economics
He explained the ideas of capitalism/market economy
Liable → Legally responsible for something
Business owners are liable for their business
DOW Jones Industrial Average → Money must last a long time
Bear Market → The DOW is down which signals that the stock market is weak
Fiat Money → The object used for money is valuable because the government says so