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Match the following

• Battle of Saratoga

• Britain recognizes the independence of The United States of America

• Treaty of Paris

• Washington's troops survived brutal winter

• Lexington and Concord

• first shots of the war

• Valley Forge

• convinced the French to join the Americans

• Yorktown

• British army surrendered to Washington

is a system of government in which power is shared between the national and state governments.

• Federalism

• Communism

• Socialism

True or False: Consumer sovereignty means consumers determine through purchases what goods and services will be produced.

• True

• False

The U.S. economy is a __________ economy.

• Traditional

• Free Market

• Command

• Mixed

Which description about entrepreneurs is INCORRECT?

• They take a risk to produce and sell goods and services in search of profit

• They don't foster technological progress and economic growth

• They can establish a business according to any of the three types of organizational structures (proprietorship, partnership, corporation)

• They create new jobs

Which of the following statement about private financial intuitions is FALSE?

• include banks and credit unions

• only receive deposits but don't make loans

• encourage saving and investing by paying interest on deposits

• help provide financial capital (money) to help people start or grow businesses

What is the best title for this diagram

• Circular flow model

• Business flow model

• Money flow model

• Mixed economy flow model

What does the term 'Census' refer to in social studies?

• A) A survey of public opinion

• B) A count of the population

• C) A measure of economic growth

• D) A study of cultural trends

Which of the following is a characteristic of a centrally planned economy?

• A) Consumer choice drives production

• B) Government makes all economic decisions

• C) Prices are determined by supply and demand

• D) Businesses operate independently

What is the primary purpose of a constitution in a country?

• A) To establish trade agreements

• B) To outline the rights and responsibilities of citizens

• C) To regulate international relations

• D) To manage the national budget