Labor
Role of Businesses
More roles of bus.
Market economy
Etc.
100
why is labor different from other factors of production
production decisions are based on what people might want
100
Who is a person who starts a business
entrepreneur
100
Entrepreneurs are motivated to start a business so they can
make a profit
100
The price at which buyers and sellers agree to trade at
market price
100
The law of demand says that when prices are..
low, more people will buy
200
True or false, during a strike, workers stay on the job, but work more slowly
False
200
A type of business in which two or more people share ownership
Partnership
200
What is an example of how businesses are not owned in our economy
stock market
200
The payment for the use of capital
demand
200
what kind of economy do we live in
mixed economy
300
What is the primary cause of rise of labor unions
workers had little power over wages and working conditions
300
A business owned by and individual
sole proprietorship
300
What is an advantage of a sole proprietorship
they get to keep all profits
300
Producers made more shirts to sell at 60$ then 40$. This shows
the law of supply
300
What is it called when workers attend work, but work much slower
a sit down
400
which payment do businesses exchange for factors of production
wages, salaries, rent, and interest
400
Corporations sell stock in order to
share responsibility for debt
400
The market price is determined by
the law of supply and demand
400
when workers go on strike, owners of the business might hire....
scabs
500
Why did wage laborers in the 1800's suffer
low wages, boring and dangerous jobs, and long workdays
500
large businesses and corporations have grown in importance because they
produce goods ad services more efficiently
500
What is a business called when it is separate from the people who own it and legally act as a single person
corporation
500
The payment that producers exchange for the use of capital
interest
500
Our free market economy depends on a circular flow of...
goods, services, money, and labor
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