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Study sets matching "civics and free enterprise"

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Study sets matching "civics and free enterprise"

98 terms
CIVICS: free enterprise
goods
services
factors of production
natural resources
tangible products that we use to satisfy our wants and needs
work performed by a person for someone else
resources necessary to produce goods and services
gifts of nature that make production possible
goods
tangible products that we use to satisfy our wants and needs
services
work performed by a person for someone else
27 terms
Civics Free Enterprise (Saylor)
Production
Distribution
Consumption
Land (Natural)
is a process that combines economic resources so the result i…
process of getting a product or service to consumers
using a product or service
unaltered gifts of nature(soil, water, timber, wood)
Production
is a process that combines economic resources so the result i…
Distribution
process of getting a product or service to consumers
13 terms
Civics: Free Enterprise
expansion period ... peak period ... contrac…
macroeconomics
microeconomics
gross domestic products
Business cycle
the study of the behavior and decision making of entire econo…
the study of the economic behavior and decision making of sma…
What does GDP stand for?
expansion period ... peak period ... contrac…
Business cycle
macroeconomics
the study of the behavior and decision making of entire econo…
25 terms
civics: free enterprise and capitalism
___ is a Scotsman who wrote this book,…
the basic idea behind the book: "indiv…
this is basis for ___ capitalism
private citizens own and use the facto…
- adam smith... - the wealth of nations
self-interest
free-market
capitalism
___ is a Scotsman who wrote this book,…
- adam smith... - the wealth of nations
the basic idea behind the book: "indiv…
self-interest
28 terms
civic free enterprise
the study of how people use limited re…
limited amount of resources
completely out of resource
money, time, and availability of product
define economics
define scarcity
define shortage
what are limited resources?
the study of how people use limited re…
define economics
limited amount of resources
define scarcity
33 terms
Civics free enterprise
who wrote the book, the wealth of nati…
Who said the wealth of nations is the…
'Individuals left on their own, would…
little government involvement in econo…
Adam Smith
Thomas Jefferson
self-interest
interest
who wrote the book, the wealth of nati…
Adam Smith
Who said the wealth of nations is the…
Thomas Jefferson
47 terms
Free Enterprise (Civics Exam)
Goods
Services
Factors of Production
Natural Resources
tangible products that we use to satisfy our wants and needs
work performed by a person for someone else
resources necessary to produce goods and services
gives of nature that make production possible
Goods
tangible products that we use to satisfy our wants and needs
Services
work performed by a person for someone else
30 terms
Civics/Free Enterprise Chapter 2
John Locke
Republic
Quartering Act
English Bill Of Rights
John Locke, was an English philosopher and physician regarded…
A government based on a representative democracy.
The quartering act required the colonies to house British sol…
The English Bill of Rights is an act that the Parliament of E…
John Locke
John Locke, was an English philosopher and physician regarded…
Republic
A government based on a representative democracy.
36 terms
Civics/Free Enterprise Chapter 1
What age do children need to attend sc…
What are duties of an american citizen?
What happened between 1830 & 1890
Highest government in the land?
Ages 7-16
Obey Laws, Pay Taxes, & Defend the Nation
22 million immigrants came to the United States from countrie…
National government
What age do children need to attend sc…
Ages 7-16
What are duties of an american citizen?
Obey Laws, Pay Taxes, & Defend the Nation
15 terms
Free Enterprise
Free Enterprise
Socialism
Communism
Literacy Rate
Economic system in which individuals and businesses are allow…
An economic and governmental system based on public ownership…
A political system in which the government owns all property…
percentage of people who can read and write.
Free Enterprise
Economic system in which individuals and businesses are allow…
Socialism
An economic and governmental system based on public ownership…
Free Enterprise
Producer
Product
Prototype
Profit
A person who creates or supplies goods or services.
A good produced and offered for sale.
A model or sample of a good to be produced.
The money that is left over after a business pays all its cos…
Producer
A person who creates or supplies goods or services.
Product
A good produced and offered for sale.
55 terms
Civics Unit 5: Free Enterprise (Vocabulary)
Goods
Services
Factors of Production
Natural Resources
Items purchased to satisfy needs and wants
Activities performed by people, firms or government agencies…
Land, labor, and capital; the three groups of resources that…
Materials or substances such as minerals, forests, water, and…
Goods
Items purchased to satisfy needs and wants
Services
Activities performed by people, firms or government agencies…
Civics:Free Enterprise-Supply (Chapter 21) Hahn
Supply
Supliers(businesses)
Law of supply
The higher the price of the good
various quantities of a good or service that producers are wi…
offer quantities of a product depending on the price that buy…
principle that suppliers will normally offer more for sale at…
the greater the profit will be for the supplier
Supply
various quantities of a good or service that producers are wi…
Supliers(businesses)
offer quantities of a product depending on the price that buy…
35 terms
Civics and Economics Goal:8 The Free Enterprise System
What is it called when the price incre…
What is a demand schedule?
What is a demand curve?
Which of the following is a factor tha…
A. Law of Demand... B. Demand Schedule... C. Demand Curve
A. Table with demand data... B. Graph with demand data... C. Chart…
A.Table with demand data ... B. Chart with demand data... C.Graph w…
A. Money... B. Tax... C. Income
What is it called when the price incre…
A. Law of Demand... B. Demand Schedule... C. Demand Curve
What is a demand schedule?
A. Table with demand data... B. Graph with demand data... C. Chart…
8 terms
Civics Quiz: The American Free Enterprise System
Free Enterprise System
Socially and politically
Society
the government protects property right…
an economic system characterized by private or corporate owne…
The Free Enterprise System ____ and _____ gives people the co…
The government works together with _____ to promote the conce…
the government....
Free Enterprise System
an economic system characterized by private or corporate owne…
Socially and politically
The Free Enterprise System ____ and _____ gives people the co…
15 terms
Free Enterprise
Free Enterprise
Socialism
Communism
Literacy Rate
Economic system in which individuals and businesses are allow…
An economic and governmental system based on public ownership…
A political system in which the government owns all property…
percentage of people who can read and write.
Free Enterprise
Economic system in which individuals and businesses are allow…
Socialism
An economic and governmental system based on public ownership…
17 terms
Free Enterprise
Econimics
Economic System
Capitalism
Free Enterprise
The study of how people use, produce and distribute goods and…
A country's way of making choices about how to use its resour…
A market economy or free enterprise system
Individuals and businesses may buy and sell goods and service…
Econimics
The study of how people use, produce and distribute goods and…
Economic System
A country's way of making choices about how to use its resour…
62 terms
Free enterprise
Capitalism
Competition
Free enterprise
Entrepreneur
market economy based on capitalism a system in which private…
struggle among sellers to attract consumers by offering the b…
american economy .
person who organizes and operates a business or businesses, t…
Capitalism
market economy based on capitalism a system in which private…
Competition
struggle among sellers to attract consumers by offering the b…
14 terms
Free Enterprise
GDP
Public Interest
Private Sector
In-kind Benefits
The measure of all the goods and services produced in the cou…
The concerns of the people as a whole
The part of the national economy that is not under direct gov…
Goods and services provided by the government for free or at…
GDP
The measure of all the goods and services produced in the cou…
Public Interest
The concerns of the people as a whole
12 terms
Free enterprise
madam C.J. walker
Thomas Edison
private property
economy
entrepreneur who was the first African American women to beco…
inventor whose many inventions included the light bulb and ph…
something owned by individual people
system for producing and disturbing goods and services
madam C.J. walker
entrepreneur who was the first African American women to beco…
Thomas Edison
inventor whose many inventions included the light bulb and ph…
14 terms
Free Enterprise
The Free Enterprise System
Freedom of Choice
The Profit Motive
Competition
This requires a democratic form of government and a strong ma…
The opportunity consumers have to buy whatever they want and…
It is this concept that encourages people to work hard and ta…
The idea that if someone is doing well financially in one bus…
The Free Enterprise System
This requires a democratic form of government and a strong ma…
Freedom of Choice
The opportunity consumers have to buy whatever they want and…
16 terms
free enterprise
intellectual property
freedom of ownership
patents
trademark
the creative works of authors, artists, composers, inventors
one of the most basic principles ... personal property... must comp…
you alone own the rights of a term or idea ... must be useful=ca…
a unique word, mark, symbol, or devices that identifies a pro…
intellectual property
the creative works of authors, artists, composers, inventors
freedom of ownership
one of the most basic principles ... personal property... must comp…
9 terms
Free Enterprise
Free Enterprise
Economic Freedom
Voluntary Exchange
Private Property
Economic system in which people are free to start their own b…
You may start your own business and set prices
Act of buyers and sellers willingly participating in market t…
You may own property as an individual or group
Free Enterprise
Economic system in which people are free to start their own b…
Economic Freedom
You may start your own business and set prices
13 terms
Free Enterprise
private property
economy
free enterprise
profit
Something OWNED by individual people
System for producing and distributing goods and services
Economic system in which people are FREE to start their own b…
MONEY a business has LEFT OVER after it has paid all its costs
private property
Something OWNED by individual people
economy
System for producing and distributing goods and services
9 terms
Free Enterprise
Free Enterprise
Economic Freedom
Voluntary Exchange
Private Property
Economic system in which people are free to start their own b…
You may start your own business and set prices
Act of buyers and sellers willingly participating in market t…
You may own property as an individual or group
Free Enterprise
Economic system in which people are free to start their own b…
Economic Freedom
You may start your own business and set prices
12 terms
Free Enterprise
Madam C.J Walker
Thomas Edison
Private Property
Economy
Entrepreneur who was the first African American to become a m…
Inventor whose many inventions included the light bulb and th…
Something owned by individual people
System for producing and distributing good and services
Madam C.J Walker
Entrepreneur who was the first African American to become a m…
Thomas Edison
Inventor whose many inventions included the light bulb and th…
15 terms
Free Enterprise
Private Property
Economy
Free Enterprise
Profit
owned by individuals or groups
system of producing and distributing goods and services
people are free to start their own businesses and own their o…
money a business has left after it has paid all of its costs
Private Property
owned by individuals or groups
Economy
system of producing and distributing goods and services
18 terms
Free Enterprise
Economics
Market
Goods
Services
Study of people producing and exchanging to get the goods and…
Occurs whenever and wherever people voluntarily make exchange…
Physical products a business produces
Products you can't touch
Economics
Study of people producing and exchanging to get the goods and…
Market
Occurs whenever and wherever people voluntarily make exchange…
10 terms
Civics Ch 19.3 Capitalism and Free enterprise Vocab
competition
voluntary exchange
consumer sovereignty
capitalism
the struggle that goes on between buyers and sellers to get t…
act of buyers and sellers freely and willingly engaging in ma…
describe the consumer as the "king" or ruler, of the market,…
an economic system in which private citizens own and use the…
competition
the struggle that goes on between buyers and sellers to get t…
voluntary exchange
act of buyers and sellers freely and willingly engaging in ma…
7 terms
Free enterprise
Free Enterprise
J.D. Rockerfeller
Andrew Carnegie
Bill Gates
Individuals make economic choices and start businesses in a f…
Around 1900, Standard Oil, the largest oil company in history.
Around 1900, started U.S. Steeland became the richest person…
Started Microsoft and became a billionaire.
Free Enterprise
Individuals make economic choices and start businesses in a f…
J.D. Rockerfeller
Around 1900, Standard Oil, the largest oil company in history.
6 terms
Free Enterprise
Free Enterprise
What is the goal of Free Enterprise?
What is a producer?
What is a consumer?
People are free to produce & sell as they wish; & free to buy…
TO MAKE $$$$$ (Money or a PROFIT)
People who make & sell goods
People who buy & use goods & services
Free Enterprise
People are free to produce & sell as they wish; & free to buy…
What is the goal of Free Enterprise?
TO MAKE $$$$$ (Money or a PROFIT)
6 terms
Free Enterprise
Free Enterprise
What is the goal of Free Enterprise?
What is a producer?
What is a consumer?
People are free to produce & sell as they wish; & free to buy…
TO MAKE $$$$$ (Money or a PROFIT)
People who make & sell goods
People who buy & use goods & services
Free Enterprise
People are free to produce & sell as they wish; & free to buy…
What is the goal of Free Enterprise?
TO MAKE $$$$$ (Money or a PROFIT)
15 terms
Free Enterprise
What are the American economic goals
Free Enterprise
5 Characteristics of Free-Enterprise C…
What is the implication of economic fr…
Economic Freedom... Economic Efficiency ... Economic Equity... Economi…
resources are privately owned, and competition is allowed to…
Economic Freedom ... Voluntary Exchange (buyers and sellers may…
1. people have the freedom to choose their jobs, employers, a…
What are the American economic goals
Economic Freedom... Economic Efficiency ... Economic Equity... Economi…
Free Enterprise
resources are privately owned, and competition is allowed to…
18 terms
free enterprise
capitalism
competition
free enterprise
economic freedom
a system in which private citizens own the "factors" of produ…
capitalism strives on this. this is the struggle among seller…
competition is allowed to flourish with a minimum of governme…
(feature of free enterprise) people have the freedom to choos…
capitalism
a system in which private citizens own the "factors" of produ…
competition
capitalism strives on this. this is the struggle among seller…
13 terms
Free Enterprise
Bait & Switch
Comparison Shopping
Brand Name
Generic
the action (generally illegal) of advertising goods that are…
the practice of comparing the price of products or services f…
a name given by the maker to a product or range of products,…
a consumer product having no brand name or registered trademark
Bait & Switch
the action (generally illegal) of advertising goods that are…
Comparison Shopping
the practice of comparing the price of products or services f…
12 terms
Free Enterprise
capitalism
command economy
comsumers
demand
capitalism
command economy
consumers
demand
capitalism
capitalism
command economy
command economy
12 terms
Free Enterprise
Balance
Leisure
Time Management
Profession
A condition in which different elements are equal or in the c…
Free time not taken up with work.
Organizing and using your time in a way that allows you to me…
An individual in an occupation that requires advanced trainin…
Balance
A condition in which different elements are equal or in the c…
Leisure
Free time not taken up with work.
Free enterprise
Private property
Free contract
Voluntary exchange
Competition
People have the right to control their possessions
People can decide what agreements they want to enter into
People can decide what & when they want to buy & sell
Rivalry among sellers to attract customers while lowering cost
Private property
People have the right to control their possessions
Free contract
People can decide what agreements they want to enter into
15 terms
free enterprise
capitalism
command economy
competition
consumers
a market economy or free enterprise system
government makes all of the key economic decisions
rivalry among sellers to get more customers and money
people who buy and used goods and services
capitalism
a market economy or free enterprise system
command economy
government makes all of the key economic decisions
12 terms
Free Enterprise
PRIVATE PROPERTY
INCENTIVES
ECONOMIC FREEDOM
COMPETITION
Give people the right to control their possessions and use th…
Lower prices and higher wages are incentives for consumers an…
Individuals can choose what kind of work they want to do and…
The American economy benefits from the tradition of open oppo…
PRIVATE PROPERTY
Give people the right to control their possessions and use th…
INCENTIVES
Lower prices and higher wages are incentives for consumers an…
9 terms
Free Enterprise
Capitalism
Command Economy
Competition
Consumers
A market economy or free enterprise system
Government makes all the of the key economic decisions
Rivalry among sellers to get more customers want to buy
People who buy and use goods and services
Capitalism
A market economy or free enterprise system
Command Economy
Government makes all the of the key economic decisions
15 terms
free enterprise
Capitalism
Competition
Free enterprise
Mixed economy
A system in which private citizens own the factors of product…
the struggle among sellers to attract consumers by offering t…
another term to describe the American economy ; competition i…
the government and citizens divide power amongst eachother
Capitalism
A system in which private citizens own the factors of product…
Competition
the struggle among sellers to attract consumers by offering t…
15 terms
Free Enterprise
capitalism
command economy
competition
consumers
market economy
gov makes all economic decisions
rivalry
people who buy goods
capitalism
market economy
command economy
gov makes all economic decisions
15 terms
Free Enterprise
Capitalism
Command Economy
Competition
Consumers
A market economy or free enterprise system
Government makes all of the key economic decisions
Rivalry among sellers to get more customers and money
People who buy and use goods and services
Capitalism
A market economy or free enterprise system
Command Economy
Government makes all of the key economic decisions
15 terms
Free Enterprise
capitalism
command economy
competition
consumers
a market economy or free enterprise system
government makes all of the key economic decisions
rivalry among sellers to get more customers and money
people who buy and use goods and services
capitalism
a market economy or free enterprise system
command economy
government makes all of the key economic decisions
15 terms
free enterprise
Capitalism
Command Economy
Competition
Consumers
a market economy or free enterprise system
government makes all of the key economic decisions
rivalry among sellers to get more customers and money
people who buy and use goods and services
Capitalism
a market economy or free enterprise system
Command Economy
government makes all of the key economic decisions
15 terms
Free Enterprise
Capitalism
Command Economy
Competition
Consumers
a market economy or free enterprise system
government makes all of the key economic designs
rivalry among sellers to get more customers and money
people who buy and use goods and services
Capitalism
a market economy or free enterprise system
Command Economy
government makes all of the key economic designs
12 terms
Free Enterprise
Capitalism
Command Economy
Consumers
Demand
A market economy or free enterprise
Government makes all of key economic decisions
People who buy and use goods and services
The amount of goods and services that consumers want to buy
Capitalism
A market economy or free enterprise
Command Economy
Government makes all of key economic decisions
12 terms
Free Enterprise
Capitalism
Command Economy
Consumers
Demand
A market economy or free enterprise system
Government makes all of they key economic decisions
People who buy and use goods and services
The amount of goods and services that consumers buy
Capitalism
A market economy or free enterprise system
Command Economy
Government makes all of they key economic decisions
15 terms
Free enterprise
Capitalism
Command Economy
Competition
Consumers
a market economy or free enterprise system
government makes all of the key economic decisions
rivalry among sellers to get more customers and money
people who buy and use goods and services
Capitalism
a market economy or free enterprise system
Command Economy
government makes all of the key economic decisions
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