Chapter 4

The law of demand states that as the price increases then 

• quantity demanded increases

• quantity demanded decreases

• demand increases

• demand decreases

A __________ graphically shows the data from a demand schedule. In other words, its a graph that shows how much of a good or service an individual will buy at each price.

• Demand schedule

• Demand curve

• Market demand curve

• Supply curve

_________ are goods that consumers demand more of when their incomes rise.

• Normal Goods

• Inferior Goods

• Consumer Tastes

_________ is a measure of how responsive consumers are to price change.

• Market size

• Elasticity of Supply

• Elasticity of Demand

• Demand Schedule

Match the following

• all persons born or naturalized in U.S. were entitled equal rights

• 14th Amendment

• Ended segregation in public schools

• 15th Amendment

• Allowed "separate but equal" facilities.

• Brown v. Board of Education

• gave people right to vote regardless of race

• 13th Amendment

• abolished slavery

• Plessy v. Ferguson

Match the economic systems to its characteristics or meaning.

• Customs, family, and historical basis

• Traditional economy

• Private sector, profit, and minimal gov.

• Command economy

• Centrally owned by the government

• Mixed economy

• Public and private sectors

• Free Market

Why did the framers of the Constitution create three separate branches of government?

• to help people with different opinions cooperate

• to increase the power of the central government

• to keep any one group from gaining too much power

• to provide enough officials to handle the volume of work

The first words of the Constitution indicate that power and authority in our system of government come from the

• states

• people

• voters

• lawmakers

Which of these is the defining characteristic of a federal system of government?

• Elected representatives make decisions for the nation.

• Power is divided between central and regional bodies.

• Separate branches have different areas of responsibility.

• Legislative actions are limited by a set of written guidelines.

Over time, constitutional amendments have extended which right to the groups listed below?

African Americans - Women - Residents of the District of Columbia - 18-year-olds

• right to an education

• right to serve on a jury

• right to vote in elections

• right to federal employment