EF 5-6 Vocab Review

EF 5-6 Vocab Review

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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12 questions

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1.

FLASHCARD QUESTION

Front

Reduction or elimination of government power in an industry to enhance competition.

Back

Deregulation

2.

FLASHCARD QUESTION

Front

Systematic over/underproduction of goods/services due to external factors.

Back

Market failures

3.

FLASHCARD QUESTION

Front

Private property in a market economy includes exclusive use, legal protection, and transfer rights, defined and enforced by government.

Back

Property rights

4.

FLASHCARD QUESTION

Front

Goods supplied by the government, where one person's use doesn't reduce availability for others, and consumption isn't limited to payers.

Back

Public goods

5.

FLASHCARD QUESTION

Front

Items supplied by the government (e.g., schools, roads) enjoyed by all, funded by taxes.

Back

Public Goods and Services

6.

FLASHCARD QUESTION

Front

Transfer payments involve government taxation and spending to assist lower-income groups, aiming to redistribute income (e.g., welfare, social security, food stamps).

Back

Redistribution of income

7.

FLASHCARD QUESTION

Front

Controlling price/output in an industry, affecting natural monopolies. Examples: health, safety, performance, environmental, output, job standards.

Back

Regulations

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