
PF Final Exam
Flashcard
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Other
•
12th Grade
•
Practice Problem
•
Hard
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50 questions
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1.
FLASHCARD QUESTION
Front
The principle that states people must decide which goods and services to use due to limited resources and unlimited wants is known as ____.
Back
Scarcity
2.
FLASHCARD QUESTION
Front
The factors of production include ____.
Back
land, labor, capital, entrepreneurship
3.
FLASHCARD QUESTION
Front
Which of the following is NOT a depository institution?
commercial banks,
credit unions,
savings and loan associations
Back
investment banks
4.
FLASHCARD QUESTION
Front
The regulatory agency that oversees non-depository institutions is the ____.
Back
Securities and Exchange Commission
5.
FLASHCARD QUESTION
Front
Each of the following is a function of money EXCEPT ____: serving as medium of exchange, offering unit of value, providing store of value.
Back
maintaining a stable value
6.
FLASHCARD QUESTION
Front
The total amount of money in circulation in a country is called ____.
Back
money supply
7.
FLASHCARD QUESTION
Front
The federal regulatory agency that guides monetary policy is the ____.
Back
Federal Reserve System
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