Supply/Demand
The desire to own something and the ability to pay for it is called...
What is Demand?
A market in which a large number of firms all produce essentially the same product.
A business owned and managed by a single individual.
What is "sole proprietorship?"
anything used to determine value during the exchange of goods and services
What is "Medium of exchange?"
The amount Dave suggested to go into your emergency fund as a high school student.
What is "$500?"
The Law of Demand states that as prices go down...
What is "quantity demanded goes up?"
The expenses a new business must pay before it can begin producing and selling products are called...
What is "Start up costs?"
A business owned and managed by two or more persons.
What is "partnership?"
Name 3 of the Six characteristics of money
What is "Durable, Portable, Divisible, Uniform, Limited, or Form of Payment?"
interest paid in interest previously earned
what is "compound interest?"
What is "inelastic?"
This market structure forms when barriers prevent firms form entering a market that has a single supplier.
What is "monopoly?"
A semi-independent business that pays fees to a parent company.
what is "fiat money?"
there is no such thing as good ____
What is "debt?"
All of the supply schedules of individual firms in a market can be added up to create a...
What is "market supply schedule"?
Monopolists charging different prices to different groups is called...
What is "price discrimination?"
Name 3 examples of franchises.
What is "Little Caesaer's, Taco Bell, McDonalds...?"
(Answers may vary)
Who is the current chairman of the federal reserve?
What is "Jerome Powell?"
What is "FICO?"
A company's _____ is determined by the amount of money a company receives from selling its goods.
What is "total revenue?"
An agreement among members of an oligopoly to illegally set prices and production levels.
A certificate ownership in a corporation.
What is "stock?"
Who proposed the national bank idea?
What is "Alexander Hamilton?"
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