Exam Questions and Answers 100% Pass
America's first national government was based on the _____ _____ _____. - ✔✔Articles
of Confederation
The primary functions of government are to ___________________. - ✔✔maintain order,
settle conflicts, protect the community
_____ _____ of the Constitution defines the legislative branch and vests power to
legislate in the Congress of the United States. - ✔✔Article 1
The executive powers of the President are defined in _____ _____. - ✔✔Article 2
The ___________ ________ of government enforces the laws of the land. - ✔✔executive
branch
_____ _____ defines the judicial branch as the Supreme Court and such inferior courts as
Congress sees necessary to establish. - ✔✔Article 3
The Constitution establishes a government based on the principle of "_____," or the
sharing of power among the national, state, and local governments. - ✔✔federalism
Education for _____ in a constitutional democracy has been a long-standing goal of
schools in the United States. - ✔✔citizenship
EU capital in _____ _____ - ✔✔EU capital in Brussels, Belgium.
COPYRIGHT © 2025 BY SOPHIA BENNETT, ALL RIGHTS RESERVED 1
, Opportunity Cost - ✔✔Whenever limited resources are used to satisfy one want or
need, there are other wants and needs that remain unsatisfied. The next best alternative
that must be given up when a choice is made.
Interdependence - ✔✔decisions by Business A affect the decisions of other businesses
and the decisions of other businesses affect the decisions of Business A.
Factors of Production - ✔✔used to produce goods and services - labor, capital, land, and
entrepreneurship.
What will we produce with our resources?
How will we produce these goods?
For whom will we produce these goods? - ✔✔All economic systems answer 3 basic
economic questions:
Traditional Economy - ✔✔In these economies, answers to three basic economic
questions are based on how they were addressed in the past. There is little difference
from generation to generation about who will do what and how it will be done; if your
family grows wheat, you will be a wheat farmer, too. New ideas or ways of doing
things are generally rejected. Most often found in rural regions with high levels of
subsistence farming.
Command Economy - ✔✔In these economies, government provides all the answers to
the three basic economic questions state planners decide which goods and services are
produced and how they are distributed. The state owns all property and controls all
resources, including land, labor, and capital. Consumer needs receive little attention in
this type of economy. The former Soviet Union is an example.
Market Economy - ✔✔In these economies, the three basic economic questions are
answered by individuals and privately owned corporations rather than by the
government. The exchange of goods, services, and information takes place in a free
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