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SBV list 4-2

QuestionAnswer
circular flow model A diagram that shows the flow of economic activity among sectors of the economy.
credibility The quality or state of offering reasonable grounds for being believed.
culture Learned behavior of a group of people, which includes their belief systems and languages, their social relationships, their institutions and organizations , and their material goods such as food, clothing, buildings, tools and machines.
goods Objects that are capable of satisfying people's wants.
private sector The part of the economy that involves transactions of individuals and businesses.
proportional tax A tax for which the percentage of income paid in taxes remains the same for all income levels
racism The belief that members of ones own race are superior physically, mentally, culturally and morally to members of other races.
discrimination Unfair treatment of a person or group based on a variety of prejudices.
Created by: sbadger
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