Mrs. McTigue's terms for civics and economics 2017
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 | "Hands off"- let the market decide instead of the government
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| show | Basic requirement for survival
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| Mixed Economy | show 🗑
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| Factors of Productions | show 🗑
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| show | Government owns all resources and decides what to produce and who to produce it for
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| show | The Market owns resources and answers the three basic economic questions based on competition, profit incentives and self interest
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| Opportunity cost | show 🗑
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| show | The study of how a society is satisfies it's unlimited wants and needs with it's limited resources
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| show | The resources are based on custom and tradition. tends to be more family/tribe centered.
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| show | way of Expressing an unnecessary need
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| Value | show 🗑
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| Paradox of value | show 🗑
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| Scarcity | show 🗑
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| Cost-Benefit analysis | show 🗑
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| Variable costs | show 🗑
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| Fixed Costs | show 🗑
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| Marginal Costs | show 🗑
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| Substitute | show 🗑
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| show | a situation in which quantity demanded equals quantity supplied.
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| complimentary good | show 🗑
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| Price Ceiling | show 🗑
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| increase | show 🗑
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| decrease | show 🗑
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| price floor | show 🗑
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| show | when quantity demanded is greater than quantity supplied
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| show | when quantity supplied is greater than quantity demanded
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| partnership | show 🗑
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| corporation | show 🗑
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| show | a business owned and run by one person
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| show | a business that has at least four businesses all making different products
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| multinationnal | show 🗑
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| horizontal merger | show 🗑
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| vertical merger | show 🗑
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| perfect competition | show 🗑
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| show | characteristics are: market sets the price, competitors compete with non-price competition tactics like customer service, quality
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| show | characteristics: very few sellers, difficult to enter the market, causes high prices
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| show | occurs when businesses own a patent or copyright
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| geographic monopoly | show 🗑
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| monopoly | show 🗑
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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.
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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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