Recalling Key concepts

1. False In a free-Enterprise system, prices and wages are not strictly controlled by governement regulations
2. True
3. false
4. True
5. False The consumer product safety commision helps protect the public against dangerous products

Chapter 19 Vocabulary

Economics-The field of study that tries th explain how to produce, distribute and use goods and services

Economic system is a countrys way o using resources to provide goods and services that its people want and need.

Free Enterprise means that individuals or businesses may buy and sell and set prices with little governemtn interferece

Consumers are the people who buy and use goods and services

producers are the ones who make or provide goods and services

Marketplace is where buying and selling occur

GDP the total dollor value of all goods and services produced in the united states

Inflation occurs when the average prices of goods and services rise sharply.

Consumer Fraud dishonest business used by people who are trying to trick or treat you

Bait and switch a retailer advertises a bargain

Warranty is a guarantee that a product meets certain standards of quality

Weekly Schedule

Mon 1/28 4-8:30

Tues 1/29 No work

Wend 1/30 4-8:30

Thur 1/31 No work

Fri 2/1 4-8:30

Sat 11-3:30
4-9

Sun 8-2
6-9:30