Econ Quiz 100 pts.

A.  Vocabulary/Define:

1.Capitalism

2.Paradox of value-

3.0pportunity –cost

4.Financial capital

5.production capital---

6.externalized costs

7.planned obsolescence,

8.perceived obsolescence

9.Altruism

10.Safety net

11.Entitlements 

12.

B.  Explain the 7 goals of our economic system.  List and write a one sentence summary of each 

C.  List and describe  3 Entitlement programs 

D.  Draw

Economic model from the “Story of Stuff”--  The externalization of costs, etc.;

1.

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