Vocabulary to help study :) pt.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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| Taxes | show 🗑
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| show | Money you pay to the local government based on the worth the worth of the land you own.
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| show | Money that individual people pay based on how much money they make
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| Corporate Tax | show 🗑
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| show | Employers will deduct money out of your paycheck, and that money will go to social security and medicare
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| Mandatory Expenses | show 🗑
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| Discretionary Expenses | show 🗑
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| show | A statistic created by the UN to measure the quality of life the citizens in a country possibly have
Measured between 0 and 1, the closer a country is to 1 the better the quality of life is.
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| Standard of Living | show 🗑
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| show | The total value of all goods and services produced within a country in a year (Example: China with 14 billion)
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| show | GDP divided by total population
(Example: china with GDP of 14 bil only has GDP per capita of 10,000)
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| GNI (Gross National Income) per Capita | show 🗑
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| Developed Country | show 🗑
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| show | A country with a less productive economy and a lower standard of living (I.e Nigeria, India)
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| International/Foreign Trade | show 🗑
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| show | Things made in a certain country that exit to be sold into another country (i.e America to China)
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| Imports | show 🗑
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| Tariff | show 🗑
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| Domestic Trade | show 🗑
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| show | The removal of all trade barriers (including Tariff!)
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| show | The government reduces taxes on something due to the buyer benefiting society from that purchase
I.e no tax on electric cars in NJ
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| Tax Write-offs | show 🗑
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| Subsidies | show 🗑
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| Patents | show 🗑
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| Economic Systems | show 🗑
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| show | All 4 economic questions are answered by the government, no producers or consumers
i.e North Korea
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| Market Economy | show 🗑
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| Traditional Economy | show 🗑
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| Mixed Economy | show 🗑
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| Economic Ideology | show 🗑
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| Economic Spectrum | show 🗑
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| show | An economic ideology in which the citizens own businesses and decide what to make. On the economic spectrum, it leans towards market.
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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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