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WorksheetsQ3 CSA Review
Total questions: 61
Worksheet time: 1hrs 20mins
2) Could not enforce laws
2) Gave power to the king
2) Abolished the unalienable rights
2) A weak National Government
Target acts a legal entity and has many owners. What type of business structure is Target?
Proprietorship
Partnership
Entrepreneur
Corporation
The factors of production used to make goods and services- natural, human, capital, and entrepreneurship.
Scarcity
choice
resources
What is given up when a choice is made- the value of the "next best alternative" choice that was given up.
Scarcity
choice
opportunity cost
Anything that incites or motivates an individual or business to do something.
price
incentive
consumption
Buying and using goods and services.
price
incentive
consumption
Combining resources to make a good or provide a service.
price
incentive
production
Basic economic systems in the US; individuals own businesses and have freedom to choose how to spend, buy, sell, or invest without undue interference from the government.
Capitalist Economy
Free Market Economy
Traditional Economy
Select all of the characteristics of a CORPORATION.
2 or more owners
Owner takes all of the risks
Acts as a legal entity
Profits are shared
Entrepreneurs are in search of-
A business structure
Stock
Profits
Creating a new business
What is the best title for this diagram
Circular flow model
Business flow model
Money flow model
Mixed economy flow model
Which part of the flow diagram uses income to purchase products?
Government
Households/ Individuals
Businesses
Select the 3 types of financial institutions based on the pictures bleow.
How do financial institutions make deposits available to borrowers?
Make loans
Encourage saving and investing by paying interest on deposits
Receive deposits
Maintaining the value of currency
The worldwide markets in which the buying and selling of goods and services by all nations takes place-
International flow
Command Economy
Global Economy
Reasons why nations trade
What reason why nations and states trade best supports the statement in the box?
Get goods they cannot produce
Sell goods to other countries
Obtain goods at lower costs
To create jobs
Technology _______________ the cost of production.
raises
lowers
The UK is a major exporter of gas and oil and supply a lot of the world with becuase they make it really well. What ideas best support this?
Create new technology
Specialize in products
Make a larger profit
Promote efficiency and growth
