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- 1. Multiple ChoiceA way a country manages its money and resources to produce, buy, and sell goods and services.supplyeconomyvoluntary exchangeloans
- 2. Multiple ChoiceA measure of how many people want to buy a particular good or service.demandsupplyinterestloans
- 3. Multiple ChoiceThe total amount of a good or service that is available to consumers.interestloansdemandsupply
- 4. Multiple ChoiceA person who purchases a good or service.Human ResourcesConsumersProducersServices
- 5. Multiple ChoiceA person or company that either makes, grows, or does a specific good or service.ConsumerProducerInterestServices
- 6. Multiple ChoiceThe economic principle that buyers and sellers are willingly engage in free-market transactions. For this occur, both the buyer and the seller must believe that they are better off as a result of the transaction.Banking sectorHuman resourcesBusiness sectorVoluntary Exchange
- 7. Multiple ChoiceAfrican Americans would rent someone else's land just so they can farm that land and grow goods. When the goods are grown, the sharecropper would share the money with the landowner and just keep a little bit of it.Government SectorMarketSharecroppingFreedmen's Bureau
- 8. Multiple Choiceto remove or take away - in this unit, we are talking about money.interestloansopportunity costwithdraw
- 9. Multiple ChoiceWhere households and businesses deposit money with banks, and then withdraw it as needed to pay for purchases.checking accountsavings accountloanspersonal finance
- 10. Multiple Choicewhere households and businesses keep their money so it is left alone, rather than being withdrawn regularly.checking accountsavings accountloanspersonal finance
- 11. Multiple ChoiceMoney that is paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.opportunity costpriceinterestgovernment sector
- 12. Multiple Choicemoney that households or businesses borrow for a length of time. The money needs to eb repaid and you must pay interest to the bank for the amount of time it was used.interestloanshuman sectormarket
- 13. Multiple Choiceselling your labor in order to create income for the household.human resourcesbanking sectorgovernment sectorbusiness sector
- 14. Multiple Choicethe part of the economy that provides financial support for the individuals and businesses.business sectorbanking sectorgovernment sectorpersonal finance
- 15. Multiple Choicein a free market economy, the business sector is the segment that produces goods and services.government sectorbanking sectoropportunity costbusiness sector
- 16. Multiple Choicethe part of the economy that collects taxes and provides and manages public services.government sectorbusiness sectorbanking sectoropportunity cost
- 17. Multiple Choiceplace where producers and consumers engage in the exchange of goods and servicesmarketpriceopportunity costpersonal finance
- 18. Multiple Choicethe cost a consumer must play to purchase a good or service from a producer.marketpriceopportunity costpersonal finance
- 19. Multiple Choicewhen you must give up something in order to obtain something else. It is always your second-best alternativemarketpriceopportunity costpersonal finance
- 20. Multiple Choicethe set of financial choices made by individuals. Responsible personal finance includes sensible budgeting, investing, and saving.marketpriceopportunity costpersonal finance
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