Economics Unit 2
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | Economic system that allows businesses and consumers to interact with minimal government interference.
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| Characteristics of Free Enterprise | show 🗑
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| Public Interest | show 🗑
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| show | Regulates industry whose products affect health and safety, promotes competition, regulates prices
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| show | Rules are costly to implement, cuts into profits, slows production and growth
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| Economic Functions of the Government: Stabilizing the Economy | show 🗑
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| show | Provides goods and services.
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| Economic Functions of the Government: Maintaining Competition | show 🗑
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| show | Provides social security and aid to dependent children. Taxes provide services for those who need it.
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| Economic Functions of the Government: Maintains Legal and Social Works | show 🗑
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| show | Tax companies reduce their pollution rates (negative externalities). Give money to encourage positive externalities (education).
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| show | Government aid to the poor.
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| T.A.N.F. | show 🗑
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| show | Payroll taxes are collected from current workers and redistributed to elderly and disabled.
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| Unemployment | show 🗑
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| Medical Assistance | show 🗑
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| show | For people 65 years and over.
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| Medicaid | show 🗑
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| Education | show 🗑
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| show | Income level below what is needed to support a household.
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| Cash Transfers | show 🗑
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| show | Goods and services provided for free or at a really reduced price.
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| show | Protect health, welfare, and safety.
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| show | Responsible for protecting the public health by assuring the safety, efficiency and security of human and veterinary drugs.
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| show | Prevents fraudulent, deceptive, and unfair business practices.
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| Federal Aviation Administration (FAA) | show 🗑
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| Equal Employment Opportunity Commission (EEAC) | show 🗑
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| Environmental Protection Agency (EPA) | show 🗑
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| Occupational Safety and Health Administrations (OSHA) | show 🗑
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| show | Protects the public from unreasonable risks of serious injury or death from thousands of types of consumer products.
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| Nuclear Regulatory Commission (NRC) | show 🗑
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| Federal Communications Commission (FCC) | show 🗑
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| show | Laws and standards on topics of public interest put forth by the government; effects everything from gas to margarine.
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| Interest Group | show 🗑
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| Public Disclosure Laws | show 🗑
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| Market Failure | show 🗑
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| Public Good | show 🗑
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| show | The part of the economy that involves the transactions of the government.
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| show | The business of the supplying a commodity (as electricity or gas) or service (as transportation) to any or all members of a community; a service rendered in the public interest.
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| show | The part of the economy that involves the transactions of individuals and businesses.
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| show | Someone who would not choose to pay for a certain good or service, but who would get the benefits of it by anyway if it were provided as a public good.
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| Externality | show 🗑
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| show | Have beneficial side effects (neighbor fixes up their house, the value of your house goes up).
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| show | When decisions to produce goods and services create unintended costs (chemical company dumps chemical waste into Lake Erie and makes it unsafe to swim, downstream of Buffalo is forced to install special equipment as it's water treatment plan to clean it).
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
Blissful_Olive
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