CHAPTER 2 _ ECONOMIC SYSTEMS AND DECISION MAKING
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2017-03-22 16:23
Section
| Question | Answer |
|---|---|
| The kickoff for Governor Ed Ham’s bid for reelection began last night with his campaign speech to several hundred senior citizens concerned by the recent rise in ------------------------- | Inflation |
| which has brought food prices to a nearly unacceptable level for those living on a -------------------------- | Fixed income |
| He also spoke to a large group of people who survive only on ------------------- payments, which have been threatened by recent attempts of Congress to reduce benefits. | Social Security |
| Our --------------------- has not always been successful in providing for the wants and needs of our citizens, | Economic system |
| ” Governor Ham said. “You may feel that the -------------------------- has left you behind and without choices or power to affect what companies produce and charge. | Market economy |
| What we need to do is go back to the basics of ------------------------ so that citizens can once again own the factors of production,” he added. | Capitalism |
| When asked how he proposes to carry out his plans, Governor Ham said he believes strongly in benefiting both buyers and sellers with opportunities for a -------------------- that will bring more money | Voluntary exchange |
| and --------------------------- to all. | Profit |
| He wants to give ------------------------- back to the buying public so they can once again rule the market. | Consumer sovereignty |
| He also mentioned the need for laws to protect ------------------------------- so people are freer to do what they wish with their possessions. | Private property |
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