| TYPES OF BUSINESSES | WORLD ECONOMIES | US ECONOMY | SUPPLY AND DEMAND | WORD WALL |
|---|---|---|---|---|
100What is type of business with only one owner
PROPRIETORSHIP
|
100What is the type of economy that has private ownership of property and resources?
free market
|
100What is the reason that people start a business?
profit
|
100What is the amount of product consumers are willing to buy?
demand
|
100What is the term for not enough goods to satisfy all wants?
scarcity
|
200What are the 4 types of businesses?
proprietorship, partnership, corporation, entrepreneurship
|
200What is the most common economic system?
mixed economy
|
200What is who makes economic decisions in the U.S.?
both people and government
|
200What is the amount of goods a producer is willing to sell?
supply
|
200What is the word for the amount of money exchanged for a good or service?
price
|
300What is the type of business organization which limits liablity to the money invested?
corporation
|
300What is the type of economy where the government makes all the decisions?
command
|
300What is a free market economy best known for?
minimal government interference
|
300What is what happens to demand when prices rise?
go down
|
300What is the term for things that motivate people to change economic behavior?
incentives
|
400What is the type of business organization where owners share all of the risks and all the profits?
partnership
|
400What is the type of economy based on consumer sovereignty?
free market
|
400What is characteristics of the U.S. economy?
private property, free markets, profit, consumer sovereignty, and competition
|
400What is the amount of supply or deman for a product based on?
price of the product
|
400What is a person who takes risks in order to make profit?
entrepreneur
|
500What is the type of business that is treated as a legal person no matter how many owners there are?
corporation
|
500What is how the type of economy a country has is determined?
amount of government involvement
|
500What is who owns most resources in the U.S.?
private individuals and businesses
|
500What is how price is detemined in the market place?
the interaction of supply and demand
|
500What is the term for labor, land, and capital?
resources
|