(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.
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Property that belongs to the consumer and is not available to the public
Private
property
The 3rd step in the lawmaking process
Debate on the floor
These have the most amount of government involvement (North Korea)
command
economies
The amount of money that is left over after expenses have been paid
Profit
What you choose to do
choice
Bad for the consumer because they limit competition
Monopolies
Felonies (Heard in Circuit Court)
Major Crimes
These have the least amount of government involvement
Free
market
economies
Where the buying and selling of goods, services, and resources takes place
Markets
Misdemeanors
(heard in district Court)
Minor Crimes
Proposed by 2/3 of Congress
Ratified by 3/4 of the states
Amending the US Constitution
Interaction between businesses, individuals, and government
Circular Flow
Things that motivate you to make a choice or to buy a good/service
Incentives
These economies have the government provide public goods and services while private businesses also compete
(America's economy)
Mixed
economies
When a resource is hard to find and it causes prices to go up
Scarcity
These help determine price
Supply
and
Demand
The final step in the lawmaking process
Send to sign
Consumer can influence what goods and services are made and how much they cost by their choices
Consumer
sovereign
The study of the choices people make given the limited resources they have
Economics
Provided by individuals and businesses (gas stations and banks)
Private Goods and services
Supreme
Appeals
Circuit
General District
State Courts
Provided by the government (schools & post offices)
Public Goods and services
Proposed by 2/3 of the General Assembly
Ratified by 51% of the Voters of Virginia
Amending the VA State Constitution
Supreme
Appeals
District
Federal Courts
The combining of resources to make goods and services
Production
Types of Resources/Factors of Production
Natural
human
capital
That act of using goods or services
Consumption
What you pay for the good or service you receive
Price
The first step of the lawmaking process
Introduce
When a crimes was committed
Criminal Case
This can benefit the consumer by lowering prices and increasing quality
Competition
How much of something consumers want. When this goes down, prices go down.
Demand
What you chose not to do
Opportunity
cost
These economies are based on historical precedence and family tradition
Traditional
economies
A local law
Ordinance
The 4th step in the lawmaking process
Voting in both houses
When you sue someone
Civil Case
What will be produced? Who will produce it? How much will it cost?
The three
basic
questions of
economics
