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Econ 3

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
Profit motive - principle of free enterprise   show
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Open opportunity - principle of free enterprise   show
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show Everyone has the same legal rights  
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show People have the right to control their possessions and use then as they wish  
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Free contract- principle of free enterprise   show
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show People may decide what, when, and how they want to buy and sell  
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Interest group   show
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Patriotism   show
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show The right of a government to take private property for public use  
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Public interest   show
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Public disclosure laws   show
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Macroeconomics   show
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Microeconomics   show
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show Total value of all final goods and services produced in a country in a given year  
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Business cycle   show
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Referendum   show
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Obsolescence   show
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Patent   show
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show Government license-grants an author exclusive rights to publich and sell his creative works for a period of time  
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Work ethic   show
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show Share good or service for which it would be inefficient or improactical to make consumers pay individually and to exclude those who did not pay  
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show Part of the economy that involves transactions of individuals and businesses  
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show Basic facilities taht are necessary for a society to funcion and grow-roads, bridges, sewer systems  
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Free rider   show
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Market failure   show
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Externality   show
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Externalities are signs of...   show
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show Government aid to the poor  
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Cash transfers   show
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In-kind benefits   show
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Freedom to buy and sell   show
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show Through voluntary exchange, consumers send a signal to businesses telling them what to produce and how much to make or what not to produce  
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How does the Constitution protect property rights?   show
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Define Promoting the public interest   show
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show Ingredients, directions, manufacturers name, address, phone number, expiration dates  
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How public health and safety are protected in America   show
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Problems created by government regulations   show
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show *High employment-Jobs for everyone *Growth-Each generations standard of living higher than the previous generation *Stability-keep prices and banking level  
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Government role in technology   show
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show Work hard and care about the quality of one's work  
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show Government agencies that enforce ruled / laws to protect consumers and producers  
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Created by: sudokken
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