GLE50 -- Economic Institutions

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50. Describe institutions (e.g., banks, government agencies, large companies, small businesses) that make up economic systems (E-1A-M7)


The sector of the economy that includes the government.


The sector of the economy that includes businesses.


The sector of the economy that includes non-profit institutions such as religious organizations and secular charities.


The sector of the economy that includes individuals and families.


The government collects ___ and borrows money from the private and household sectors.


The government pays for contracts with the private sector and pays salaries and ___ to the household sector.


The Department of the ___ is a cabinet-level government agency that manages the finances of the U. S. government.


Regulates banks and insures bank deposits up to $250,000.


The Federal Reserve attempts to manage the speed of economic growth in the U. S. by adjusting the ___ rates that it charges banks to borrow money.


The ___ collects taxes for the federal government in the United States.


Regulates the sale of stocks and other financial instruments in the United States. Protects investors from fraud. Maintains the integrity of the stock and commodity exchanges.


The Private Sector is the ___ of the economy.


Industries including farming, fishing, and logging.


Modern industrial fishing methods have depleted many species that once provided food for millions of people. ___ fish are the best example of a species depleted by overfishing.


___ extract solid mineral resources from the earth. Examples of mined resources include gold, silver, coal, diamonds, lignite, tin, halite (salt crystals), and iron.


___ extract liquid resources from the earth. Examples of liquid resources include crude oil, natural gas, water, and sulfur.


Businesses that create a tangible product (one that may be touched) are the ___ sector of industry. These are divided into light and heavy industry.


Households and businesses that generate their own electricity are often described as "off the ___" if they are not connected to the electric system.


___ industry produces smaller, less durable items such as clothing or computers.


___ industry produces durable goods (such as cars) or large quantities of some good (such as gasoline refined from crude oil).


___ companies provide intangible (non-touchable) goods, such as banking, food service (restaurants), legal aid, entertainment, healthcare, retail stores, wholesale warehouses, transportation, and insurance.


___ are (in the U.S. at this time) mostly private sector financial institutions that lend money at interest and provide financial services for fees.


Stocks, commodities, and bonds are traded in ___ markets.


The ___ is the largest securities market.


The voluntary sector is driven by ___ rather than profits.


Households usually exchange labor for money with the other sectors (public, private, and voluntary) through the ___ of family members.

Federal Reserve

The ___ is a quasi-public institution. The President appoints and the Senate confirms the chairman. However, the government does not control the actions of the ___. It is a privately-owned institution.


The ___ sector of industry involves the gathering or extraction of natural resources.


Farms, ranches, and related businesses are called "___." These private sector institutions provide food, fiber (e.g., cotton, wool), and other renewable resources to the economy.


___ is an example of primary sector genetic industry.


___ process raw materials into products used by other businesses, government agencies, or households.


___ is part of the secondary sector of industry.


Electric ___, such as AEP-SWEPCO, produce electricity to power the other sectors of the economy.


___ are certificates of partial ownership in a company.


___ are raw materials from the primary industrial sector, such as raw coffee beans, crude oil, iron ore, and pork bellies.


___ are certificates for loans to governments or businesses.


___ buy stock in corporations, providing investment capital to the corporation to buy capital equipment, hire labor, and expand operations.


___ may be paid dividends or receive additional shares of stock over time.


The ___ is a computer-operated stock exchange specializing in high technology corporations.

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