JA Community And Economy Part 2 Question Preview (ID: 36927)


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a form of government in which ultimate power lies with the people, who exercise that power directly or through elected representatives
a) democracy
b) scarcity
c) philanthropy
d) community

an organization developed to increase the well-being of others in certain areas, such as education, religion, health, and other good causes
a) nonprofit organization
b) community
c) philanthropy
d) scarcity

payments that citizens and businesses are required to make to a government to pay for public goods and services
a) taxes
b) net pay
c) profit
d) gross pay

the money that is left over after a business pays all its costs
a) profit
b) net pay
c) taxes
d) gross pay

the people and things needed to produce goods and services
a) resources
b) net pay
c) entrepreneurs
d) community

the amount of money an employee receives AFTER taxes and other deductions are taken from a paycheck.
a) net pay
b) gross pay
c) free enterprise
d) profit

a system in which economic decisions are made in markets by people and businesses, with little government influence.
a) free enterprise
b) net pay
c) circular flow
d) resources

a person who uses resources to start a business
a) entrepreneurs
b) citizens
c) democracy
d) community

merchandise and skills offered in markets for a price
a) private goods and services
b) free enterprise
c) entrepreneurs
d) resources

members of a town, city, county, state, or county. Citizens have certain rights and responsibility.
a) citizens
b) taxpayers
c) democracy
d) community

a model of the movement of goods, services, resources, and money in a economy
a) circular flow
b) private goods
c) public services
d) profits

the amount of money an employee earns BEFORE any taxes or other deductions are subtracted
a) gross pay
b) net pay
c)
d)

A situation in which people cannot have everything they want because of limited resources.
a) scarcity
b) philanthropy
c) gross pay
d) net pay

The effort to increase the well-being of people through charitable giving.
a) philanthropy
b) profit
c) resources
d) taxes

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