Question 1. Define the term microeconomics.
Question 2. Define the term macroeconomics.
Question 3. Define the abbreviation SEC and define what it does.
Question 4. Define the abbreviation FDIC and define what it does.
Question 5. Define the term laissez-faire in terms of economics.
Question 6. Define GDP and explain what it is.
Question 7. Define inflation.
Question 8. Define the scarce means of production and explain why they are scarce.
Question 9. Explain how one can increase production potential.
Question 10. Explain why the Social Security tax be considered a regressive tax.