Terms I
Terms II
Section 1
Section 2
Section 3
100
This is the payment for the use of capital.
What is interest?
100
This is the process by which representative of the unions and business try to reach agreement about wages and working conditions.
What is collective bargaining?
100
advertising, styles of fashion, popularity of brands
What affects the demand for products?
100
rent, interest, and wages & salaries
What payments do businesses exchange for factors of productions?
100
Workers care about wages and working conditions.
Why is labour different from other factors of production?
200
This is defined as the amount of a product that producers are willing and able to offer at different prices.
What is supply?
200
These are organizations of workers that seek to improve wages and working conditions and to protect members' rights.
What are labour unions?
200
interest
What payment do producers exchange for the use of capital?
200
earn a profit
Why are entrepreneurs motivated to start a business?
200
Workers had little power over wages and working conditions.
What was the primary cause of the rise of labour unions?
300
This is the amount of a product or service that buyers are willing and able to buy at different prices.
What is demand?
300
This is the price at which buyers and sellers agree to trade.
What is market price?
300
labour, land, and capital
What are the factors of productions?
300
to produce goods and services more efficiently
Why have large corporations grown in importance?
300
Collective bargaining
What was not a weapon used by unions or employers in the early days?
400
This is a person who starts a business.
What is entrepreneur?
400
This is a business that is separate from the people who own it and legally acts as a single person.
What is a corporation?
400
the circular flow of goods & services, money, and labour
What does our free market economy depend on?
400
the person keeps all the profit
What is an advantage of a sole proprietorship?
400
Wagner Act and start of the CIO
What set the stage for the modern labour movement?
500
This is a business owned by an individual.
What is sole proprietorship?
500
A refuse to buy is this.
What is boycott?
500
laws of supply and demand
What is market price determined by?
500
to raise large amounts of money
Why do corporations sell stocks?
500
automobile manufacturer
What is not an example of a service-oriented business?
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