Question

Match these items. Match the items in the left column to the items in the right column.

Answer 1

1=D. Antitrust laws are the rules that prevent the creation and behavior of monopolies, which are large corporate entities that fully dominate and control certain market, thus they can set the level of quality, they can set the price and everything else.

2=F. To barter means to exchange goods and services without the use of money. Humanity has bartered for long as it remembered and the first traders did business this way. People exchanged the goods between one another before the money was invented. Even today people do barter with one another.

3=E. Consumer is the person whose economic wants are satisfied by using goods and services. Basically we all are consumers and we buy stuff regularly. We use money in order to provide the goods and services which are mainly maid for our consumption.

4=B. An entrepreneur is a person who organizes other productive resources to make goods and services. Another way of describing an entrepreneur is that that is a person who takes a big risk and creates a business  and takes on himself all the risks and possible rewards that may come from the venture.

5=G. Fiscal policy and policies are decisions to change spending or tax levels by the federal  government. In more simpler terms it means using mainly taxes and the government spending to influence the economy and it is often used to stabilize the economy.

6=C. Interest is the price of money borrowed or saved. This is the main way that the banks for example profit from providing the services. When the bank for example gives you a loan you pay that with interest in time. You return the money borrowed plus something extra which is extra, which is in a form a payment for the money you borrowed.

7=A. Labor is a human resource that is used to produce goods and provide services. So employees that work for a company or business are that which is labor. They work in order to provide services and produce good for their company and in exchange they receive monetary compensation. Labor pool is also called a workforce.

Answer 2

1 >> D. rules that prevent the creation and behavior of monopolies 
2 >> F. to exchange goods and services without the use of money 
3 >> E. person whose economic wants are satisfied by using goods and services
4 >> B. person who organizes other productive resources to make goods and services 

5 >> G. decisions to change spending or tax levels by the federal government

6 >> C. price of money borrowed or saved 
7 >> A. human resource that is used to produce goods and provide services