Chapters 6,7,8

Question 1

What are resources?

Answer 1

Commodities and human resources used in the production of goods and services….anything to meet a future need

Question 2

What is accessibility of resources?

Answer 2

Ability to obtain something when you need it

Question 3

What is utility of resources ?

Answer 3

The quality or condition of being useful

Question 4

What Is transferability?

Answer 4

Quality of being exchangeable

Question 5

What us interchangeable?

Answer 5

Resources that can be traded…..you work in a garden for tomatoes

Question 6

What us managbilty?

Answer 6

The ability to control what happens with the resource

Question 7

What is the resource theory?

Answer 7

Created by Foa….the idea that people attempt to meet their needs through interaction…..six kind of resources

Question 8

What is love?

Answer 8

Part of the resource theory that is a n expression of affection, regard, warmth, comfort

Question 9

What is status?

Answer 9

Part of the resource theory that says an expression of of how high or low your prestige is

Question 10

What is information?

Answer 10

Part of the resoruce theory that is opinions, advice, instruction

Question 11

What is money?

Answer 11

Part of the resource theory that says any currency

Question 12

What are goods?

Answer 12

Part of the resource theory that says tangible products and materials

Question 13

What is services?

Answer 13

Part of the resource theory that is activities on the body of a person that constitutes for labor

Question 14

What is particularistic?

Answer 14

The exclusive devotion to the interests of ones own group….person chooses

Question 15

What Is concretness?

Answer 15

Xd

Question 16

What is concretness?

Answer 16

Having an experience of events

Question 17

What are human resources?

Answer 17

Wisdom, experience, skill and labor

Question 18

What are economic resources?

Answer 18

The basic inputs or component parts of economy such as land, labor and capital…everything a business needs to function

Question 19

What are environmental resources?

Answer 19

Anything a organism needs that can be taken from the environment

Question 20

What are social resources?

Answer 20

Resoeuces that are felt and owned in your family or group

Question 21

What is resroucfulness?

Answer 21

Ability to quickly find ways to overcome difficulty

Question 22

What is surplus?

Answer 22

Somtheing that remains above what is used

Question 23

What is shortage?

Answer 23

When there us excess demand and limited supply

Question 24

What is fictional unemployment?

Answer 24

Unemployment that is due to people moving from one job to another

Question 25

What is cyclical unemployment?

Answer 25

The increases in unemployment due to a slowdown or recession

Question 26

What is structural unemployment?

Answer 26

Unemployment caused by basic changes in the economy…due to adsnvment in society

Question 27

What is bartering?

Answer 27

The exchange of one commodity for another

Question 28

What is liquidity?

Answer 28

Assets that can be flipped in cash wuick

Question 29

What is inflation?

Answer 29

The overall increase of prices on goods

Question 30

What roles do families have on economy?

Answer 30

They make the next generation that will take the place of the next workers….grouping money together to provide for all

Question 31

What are federal taxes?

Answer 31

Income tax, social security, medicare….pays for government jobs, police and fire fighters

Question 31

What are federal taxes?

Answer 31

Income tax, social security, medicare….pays for government jobs, police and fire fighters

Question 32

What are state and local taxes?

Answer 32

Property taxes, sales tax, gas tax….pays for garbage collection parks and recreation

Question 33

What is social security?

Answer 33

A tax on payroll that those over 67…gives them money l, disability, and money for surviving children

Question 34

What does the federal government do for education?

Answer 34

Receives a small amount of funding….three departmental including department of education….department of health and human services….department of agriculture

Question 35

What does the state do for education?

Answer 35

50% of schools funding comes from the state….department of education…curriculum

Question 36

What does the city do for education?

Answer 36

Control of daily operations, budgeting, financial planning, policy making

Question 37

What does the family do for the schools?

Answer 37

Must take child to school, optional to participate, required to make child attend

Question 38

What are alternatives to regular schooling?

Answer 38

Charter schools….operate independent of the state

Homeschooling….providing education at home

Private schools….follow curriculum guidelines…gets money from tuition and foundation funds