Fundamental Economic Problems Basically Arise from

question 6

Multiple Choice

Fundamental economic problems basically arise from

• A) the fact that society has more than it needs.
• B) turmoil in the stock market.
• C) the unequal distribution of income.
• D) our wants exceeding our scarce resources.

Recognize the importance and implications of landmark Supreme Court cases

Explain the process of nominating and confirming federal judges and Supreme Court Justices

Understand the principles behind judicial review and its impact on American law and politics

Describe the original and appellate jurisdiction of the Supreme Court

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Definitions:

Technological Advance

(1) An improvement in the quality of existing products, the invention of entirely new products, or the creation of new or better ways of producing or distributing products. (2) Any improvement in the methods by which resources are combined such that the same quantity of inputs can be made to yield a combination of outputs that is preferred to any combination of outputs that was previously possible.

Freedom of Choice

The right of individuals to make decisions for themselves without undue government restriction.

Society's Wants

The collective desires and needs of a community or society that drive demand and economic activity.