an economy in which a wide variety of private concerns are dominant and the state is far less involved in the production of goods and services.
What is Capitalist Economy
100
Centers that offer new businesses low-cost offices with basic business services
What is Incubators
100
Living on a Budget will make your life easier
What is why Budgets are important
100
on a supply and demand graph, the demand cure generally does what?
What is Slopes up
200
Cost of the next best alternative use of money, time, or resources when one choice is made rather than another
What is Opportunity Cost
200
the act of controlling business behavior through a set of rules or laws
What is Government Regulations
200
a system of federal financial support for retired workers and workers unable to continue working because of a disability
What is Social Security
200
a Woman borrows money to buy a house. if she doesn't repay the money the bank loaned her, the bank will take the house. What is the House?
What is Collateral
200
Why is the law of demand called a "LAW"
What is because it has been demonstrated repeatedly
300
Involve making choices or sacrifices that are unavoidable because of problem of scarcity.
What is trade offs
300
"Restructuring," a policy initiated by Mikhail Gorbachev that involved restructuring of the social and economic status quo in communist Russia towards a market based economy and society
What is Perestroika
300
A federal program of health insurance for persons 65 years of age and older
What is Medicare
300
Your portfolio is diversified. You have ______ investments.
What is Many different
300
when a nation's total output increases over time, the nation is experiencing?
What is Economic growth
400
economic model that compares the marginal costs and marginal benefits of a decision
What is Cost Benefit Analysis
400
independently owned group of Japanese firms governed by an external board of directors in order to regulate competition
What is Keirtsu
400
A federal and state assistance program that pays for health care services for people who cannot afford them.
What is Medicaid
400
in most states it is illegal to drive without_____.
What is Liability insurance
400
Which of the following is the best description of the economic system in Cuba?
What is a command economy with a strong central authority.
500
A graph that describes the maximum amount of one good that can be produced for every possible level of production of the other good.
What is Production Possibilities Curve
500
A rivalry between two or more businesses trying to sell products to the same customer or market
What is Competition
500
the idea that the less fortunate members of society should get the economic support they need to live a decent life
What is Economic Security
500
In the Mythical country Alpha, an entrepreneur has introduced a new technology that makes manufacturing twice as effective as before. How is this likely to affect the production possibilities frontier?
What is It would expand the frontier
500
List the economic systems in order from LEAST TO MOST flexible