Topic 2.1 Basics

Topic 2.1 Basics

Assessment

Flashcard

Other

12th Grade

Hard

Created by

Angela Hack

FREE Resource

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22 questions

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1.

FLASHCARD QUESTION

Front

Private Sector

Back

Run by individuals and businesses

2.

FLASHCARD QUESTION

Front

Public Sector

Back

Controlled by the government

3.

FLASHCARD QUESTION

Front

Factor Payments

Back

Rent, wages, interest, profit

4.

FLASHCARD QUESTION

Front

Transfer Payments

Back

Government redistributes income in direct movement of money NOT for goods or services.

5.

FLASHCARD QUESTION

Front

Subsidies

Back

Government payments to businesses

6.

FLASHCARD QUESTION

Front

Gross Domestic Product (GDP)

Back

Dollar value of all final goods/services produced in a year

7.

FLASHCARD QUESTION

Front

Dollar value

Back

amount measured in US dollars

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