E-Team #2

What is Capital, in economic terms?

• A city where a region's government is located

• A large letter in writing

• A factor of production: Man-made resources used in the production of goods and services.

• A type of punishment

What are Capital Goods?

• Goods that are intangible

• Tools, machinery, buildings, etc., used to produce final goods or services.

• Goods that are consumed quickly

• Goods used for personal consumption

What are Capital Resources?

• Human skills and labor

• Financial investments and stocks

• Natural resources like water and minerals

• Tangible assets used in production (Goods made by people used to produce other goods and services.

What is Capitalism?

• A social system where community ownership is prioritized over individual ownership

• A political system where the government controls all aspects of life

• An economic system where trade and industry are controlled by private owners for profit

• A cultural system focused on traditional values and customs

Cash is a form of:

• Credit

• Digital currency

• Physical currency

• Investment

What is Cash Price?

• The price of an item before any discounts or taxes are applied, if a person pays with cash.

• The price of an item after discounts but before taxes.

• The price of an item after taxes but before discounts.

• The price of an item including both discounts and taxes, whether or not they use cash.

What is a Check?

• A type of savings account.

• A written, dated, and signed instrument that contains an unconditional order from the drawer that directs a bank to pay a definite sum of money to a payee.

• A loan given by a bank.

• A credit card transaction.

A Check Card is:

• a type of prepaid card

• a type of debit card

• a type of gift card

• a type of credit card

A Check Register is:

• a financial statement

• a type of bank account

• a booklet used to record all checks issued and deposits made to a bank account

• a type of loan

A Checking Account is:

• A type of bank account that allows easy access to funds

• A retirement account

• An investment account

• A type of savings account