Econ Unit 2 PT Flashcards
A savings and loan association is an example of a __________ institution.
thrift
In a __________ or free enterprise economy, consumers make the economic decisions.
market
The fee enterprise system is dependent upon the right of Americans to own their own __________.
bisinesses
An example of a __________ fiscal policy is cutting taxes on lower-income earners
expansionary
The right to own __________ property is essential in the ability to sell or make a profit off this property.
private
The __________ Clause is seen within the Fifth Amendment.
takings
The federal __________ goes into effect each year on October 1st.
budget
The Supreme Court case Kelo v. London (2005) affirmed the government’s power of __________ domain.
eminent
Competition, the pursuit of profit, and private property are parts of the __________ system
free enterprise
Within a market economy, __________ ensures that consumers have access to reasonable prices and a variety of choices.
competition
When one company, due to some advantage, can offer a product at a lower price than other companies, it is said that it creates a __________.
natural monopoly
The National Football League enjoys a
legal monopoly
the major importance of the Sherman Antitrust Act of 1890?
It was the first move of the government to regulate the economy.
What is a startup?
a new business created by an entrepreneur
Who was the major obstacle to the spread of banking in Europe during the 1500s?
the Roman Catholic Church
