Supply and Demand a Refund
Econ Systems of a Down
Private Enterprise and Profit
I Choose BUSINESS ETHICS
Fast Food
Slogos
100
The amount of goods or services that producers are willing to sell at a given price
Supply
100
An economy based on customs and bartering, where economic roles are often inherited
Traditional Economy
100
The drive for individuals and businesses to improve their financial well-being by making money.
Profit Motive
100
A situation where a business must choose between two conflicting moral principles.
Ethical Dilemma
100
What fast food restaurant is credited with introducing the first modern-day drive-thru window?
Wendy's
100
The breakfast of champions
Wheaties
200
The quantity of a good or service consumers are willing and able to buy at a certain price
Demand
200
General term for an economic system in which the government makes all economic decisions and controls all resources.
Command Economy
200
A market with many small firms, identical products, and no barriers to entry.
Perfect Competition
200
The practice of openly sharing information about business operations to build trust with consumers and stakeholders.
Transparency
200
Which fast food restaurant is famous for its curly fries and jamocha shakes?
Arby's
200
Think outside the bun
Taco Bell
300
When demand exceeds supply at a given price, causing upward pressure on price
Shortage
300
An economy where decisions are made by individuals and businesses based on supply, demand, and competition.
Market Economy
300
The process of starting and running a business, taking on financial risks in the hope of profit.
Entrepreneurship
300
The illegal act of trading stocks based on confidential company information.
Insider Trading
300
July 13th is dedicated to which fast food item in the U.S.A.?
French Fries
300
Louis Vuitton
400
The price at which the quantity of a product supplied equals the quantity demanded.
Equilibrium Price
400
A blend of command and market economies, where the government regulates some industries while private businesses operate freely. Such as the US (mostly), New Zealand, and India
Mixed Economy
400
The balance between the potential benefits and dangers of a business decision.
Risk vs Reward
400
The principle of admitting a mistake and taking responsibility for the outcomes
Accountability
400
Which of these chicken restaurants pressure-cook its chicken in peanut oil? KFC, El Pollo Loco, Chick-fil-A, or Church’s Chicken?
Chic fil a
400
Ferrari
500
Name one reason that the supply curve could shift to the left
Input costs, government regulations, number of suppliers, natural disaster, taxes, tariffs.
500
Name the 3 Economic Questions
What to produce? How to produce? For whom to produce?
500
A market with many firms selling similar but slightly differentiated products.
Monopolistic Competition
500
Individuals or groups who have an interest in or are affected by a business's decisions and actions
Stakeholders
500
Which McDonald’s menu item has 1,320 calories?
Big Mac
500
Gotta Catch Em All
Pokemon