Levels of Economic Freedom
Business marketing
Basic Economic
Foundation of Free Enterprise
GDP
100
Most countries will be at 0 of 100 on the level of economics spectrum, true or false
What is FALSE
100
Stocks are
What is ownership of a company that a person can buy
100
The specific rate of inflation is usually
What is 2-3%
100
Businesses are ____ ti operate with little government regulation
What is FREE
100
GDP is
What is market values of all final goods and services produced within the borders of a country during a year
200
US Economic Systems can also be called
What is capitalism, free enterprise, and free market
200
Example of how technology has impacted businesses
What is the internet has brought down business start up costs
200
The ___ tries to maintain a specific rate of inflation
What is FED
200
Reason why prices change due to a variety of factors
What is consumer preferences and production costs
300
Examples of communist countries
What is Soviet Union, North Korea, Cuba, China
300
Advantage of Sole Proprietorship
What is gets to make all decisions without someone overlooking the person
300
CPI or PPI is a more popular measure of inflation
What is CPI because it is the measure of the price of set goods or services
300
Businesses can keep profit to reinvest in a Free Enterprise system, true or false
What is TRUE
300
The difference between real and nominal GDP is
What is nominal GDP uses current prices for GDP ad real GDP is when GDP is adjusted for price changes
400
PRICE acronym means
What is Property rights, Role of government, Incentives, Economic Freedom
400
Types of monopolys
What is natural monopoly, geographic monopoly, technological monopoly, and government monopoly
400
Inflation is greatly feared by investors because
What is grinds away value of investments
400
Capitalism is
What is the freedom of individuals to invest their capital (money) in businesses of their choice in hope of making money
400
Automatic stabilizers
What is make provisions in a government budget, such as tax policies ad income transfer programs
500
The first world rank out of Singapore, Hong Kong, and Denmkark
What is Hong Kong
500
The difference between blue collar workers ad white collar workers
What is blue collared workers work hourly wages and white collared workers work salary wages (like a doctor)
500
The Phillips Curve shws
What is the relationship between a given level of inflation and expected level of unemployment
500
Two benefits of a Free Enterprise System
What is individual freedom of consumers and producers, variety of goods, responsive prices, investment opportunities, and creating of wealth.
500
Two examples of automatic stabilizers are
What is unemployment insurance and income tax system
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