Market Economy
Business in American Economy
Labor in American Economy
Industrialization
Key Terms
100
The payment for the use of capital
What is interest
100
Someone who started their own business
What is an entrepreneur?
100
factor of production that deals with humans
What is labor
100
When the industrialization occur
What is 1800s
100
the price at which buyers and sellers agree to trade
What is market price?
200
How much you are willing to buy at a certain price
What is Law of Demand
200
The percentage of businesses in the US that are sole proprietorships
What is 70%
200
workers stay on the job but work more slowly
What is slow down
200
reason machinery was better
What is produce goods more inexpensively
200
type of business in which two or more people share ownership
What is partnership
300
The three resources producers need to create goods in a circular flow of economic activity
What is land, labor, and capital
300
A disadvantage in a partnership
What is having to split profit?
300
Three of the four weapons of labor
What is slow down, sit-down, boycott, or strike
300
reason farmers had to move to the city
What is less need to work
300
organizations of workers seek to improve wages and working conditions and to protect members' rights
What is labor unions?
400
market price is determined by the
What is laws of supply and demand
400
the three ways businesses are owned
What is sole proprietorship, partnership, and corporation
400
someone hired to cross a pick-it line
What is a scab
400
True or False: The number of wage laborers grew steadily during the 1800s as factories increased in number.
What is true
400
the amount of a product producers are willing and able to offer at different prices
What is supply?
500
the more a product is worth, the more you are willing to make it
What is law of supply
500
reason corporations sell stocks
What is to raise large amounts of money
500
the process by which representatives of the unions and business try to reach agreement about wages and work conditions
What is collective bargaining?
500
Three poor working conditions in factories
What is low wages, long hours, and small amount of available jobs
500
a business that is separate from the people who own it and legally acts as a single person
What is corporation?
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