Business Ownership
Government Laws
Supply & Demand
Concept of Cost
Miscellaneous
100
Business owned by one person
What is a sole-proprietorship
100
This sets guidelines for workplace safety and environment.
What is OSHA
100
The difference between what consumers want and what resources are available to them.
What is Scarcity
100
Costs that are paid regularly regardless of production.
What is fixed costs
100
Economy that encourages business to start-up and compete.
What is free enterprise system
200
A business that is a combination of corporation & partnership.
What is an LLC
200
Protects human health and the environment from hazards and pollution.
What is EPA
200
This is how much producers are willing to produce.
What is supply
200
Costs that go up & down depending on production.
What is variable costs
200
A company that is in complete control of a specific market.
What is a monopoly
300
This type of business incurs a double taxation by the state.
What is Corporation
300
This protects consumers from unfair business practices.
What is FTC
300
This is how much individual’s are willing to buy?
What is demand
300
The advantage of producing one more good.
What is marginal benefit
300
Business that combines a corporation & partnership with laws differing between states.
What is an LLC
400
A legal agreement between 2 or more people in which partners have limited liability.
What is an LLP
400
Regulates the labeling and safety of food and drugs through U.S.
What is FDA
400
When producers are charging higher prices and individuals are not willing to pay
What is a surplus
400
Disadvantage of producing one more good.
What is marginal costs
400
Business created by the state to operate as an enterprise with several business locations.
What is a corporation
500
A legal agreement between a potential business owner and an already established business or corporation?
What is a franchise
500
This act provides employees with up to 12 weeks of unpaid medical leave.
What is FMLA
500
The place where the demand & supply curves meet.
What is the equilibrium curve
500
Cost of choosing one opportunity over another.
What is opportunity cost
500
Regulates the sale of stocks & bonds.
What is SEC
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