Section 1
Section 2
Section 3
Key Terms
Miscellaneous
100
In a circular flow of economic activity, producers need three resources to create goods.
What is labor, land, and capitol.
100
Entrepreneurs are motivated to start businesses in order to do this.
What is earn a profit.
100
People that businesses hire that are willing to cross the pick-it line.
What is scabs
100
During this, worker stand outside of the work place
What is strike
100
70% of businesses are owned this way.
What is sole proprietorship
200
Market Price is determined by this.
What is the laws of supply and demand
200
There are two ways businesses are owned.
What is sole proprietorship and partnership.
200
An act that says you must negotiate with a union group.
What is Wagner Act
200
A person who starts a business
What is entrepreneur
200
Children often worked in factories in the 1800s, but this happened a lot.
What is the children died from doing dangerous jobs
300
The more the product is advertised, the more people will do this.
What is buy it.
300
Corporations sell stock in order to do this.
What is raise large amounts of money.
300
The weapons of labor
What is slow down, sit down, boycott, and strike.
300
The payment for the use of capital.
What is interest
300
The Wagner Act says that someone can't do this to someone because they are in a union.
What is fire them
400
Deciding if the benefit of something is worth the cost.
What is cost v. benefit
400
Large corporations have grown in importance because they do these two things.
What is produce goods and services more efficiently.
400
The weapons of business
What is scabs, lockout, and yellow-dog contracts.
400
The price at which buyers and sellers agree to trade.
What is market price
400
Labor has a lot of this between employers and workers.
What is conflict
500
An example of this: Producers made more shirts to sell at $60 than they did at $40.
What is the law of supply.
500
An advantage of a sole proprietorship is that the owner keeps all of this.
What is profit
500
The reason labor is different from other factors of production
What is workers care about wages and working conditions
500
A business that is separate from the people who own it and legally acts as a single person.
What is corporation
500
When unions negotiated in a _____ they were more successful.
What is group
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