Term
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Definition
| the study of the production, distribution, and consumption of goos & services |
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Term
-what is being produced
-how will it be produced
-how much will be produced
-who will buy it |
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Definition
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Term
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Definition
| ______ system is when the US and most of the western world operates in this way |
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Definition
| ______ system is also called the free enterprise or capitalist system |
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Term
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Definition
| ______ system is when people own property operate business and make decisions about the 4 questions of the economy |
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Term
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Definition
| ______ system is when the gov. regulates to ensure fair business practices and safety of workers and consumers |
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Term
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Definition
| ______ system is used by the communist gov. |
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Term
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Definition
| ______ system is when the gov. decides how to answer the 4 questions |
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Term
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Definition
| ______ system= underdeveloped nations may follow this system |
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Term
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Definition
| ______ system is when the 4 questions are answered by tradition |
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Definition
| ______ system is when jobs are handed down form father to son |
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Term
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Definition
| ______ system is when men and women have diff. jobs |
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Term
| the public service commission |
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Definition
| what regulates utilities within the state? |
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Term
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Definition
| how are employees working for wages paid? |
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Term
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Definition
| who sets the minimum wage amount? |
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Term
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Definition
| what is a fixed amount of money that a person makes no matter how many hours they work? |
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Term
| the national and Louisiana unemployment |
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Definition
| what increased from 2000-2003 and dropped in 2004? |
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Term
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Definition
| making sure enough resources are available for the demand |
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Term
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Definition
| performing with the least waste of time and effort |
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Term
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Definition
| what involves the trading of goods and services |
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Term
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Definition
| people value ______ b/c they are beautiful and scarce |
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Term
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Definition
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Term
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Definition
| the amount of credit a company is willing to offer based on a person's credit history |
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Term
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Definition
| the money a consumer earns on deposited money |
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Term
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Definition
| the money a consumer must pay to a company on money borrowed |
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Term
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Definition
| when a balance is not paid in full, interest is charged monthly to the overall amount. what is this? |
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Term
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Definition
| two ways customers can buy goods & services w/out paying cash |
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Term
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Definition
| shows changes in the price of certain goods |
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Term
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Definition
| when a business is owned by ONE person |
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Term
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Definition
| when a business is owned by TWO OR MORE people |
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Term
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Definition
| businesses owned by MANY people who have bought Part of the business |
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Term
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Definition
| all of the businesses and trade happening between the world's nations |
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Term
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Definition
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Term
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Definition
| NORTH AMERICAN FREE TRADE AGREEMENT- between the u.s., canada, and mexico. Designed to remove tariffs |
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Term
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Definition
| shows how well the economy is doing |
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Term
| natural resources & minerals |
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Definition
| what does this state have a wealth of? |
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Term
| salt, oil, natural gas, sulfur, gypsum, & clay |
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Definition
| what are some natural resources and minerals in Louisiana |
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Term
| cotton, sugarcane, tobacco |
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Definition
| products louisiana produces |
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Term
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Definition
| Exxon has the ______ of any refinery in the U.S. |
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Term
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Definition
| our state's second most important industry |
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Term
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Definition
| Louisiana spends more time and money on this than any other state |
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Term
-new orleans
-baton rouge
-plaquemines
-lake charles |
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Definition
| 5 of the nations best seaports are here |
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Term
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Definition
| assembled by both state & gov. & based on how much money a person earns |
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Term
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Definition
| assembled by the parish & based on property value |
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Term
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Definition
| admission fees to state parks/museums/toll bridges/etc. |
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