TYPES OF BUSINESSES
WORLD ECONOMIES
US ECONOMY
SUPPLY AND DEMAND
WORD WALL
100
PROPRIETORSHIP
What is type of business with only one owner
100
free market
What is the type of economy that has private ownership of property and resources?
100
profit
What is the reason that people start a business?
100
demand
What is the amount of product consumers are willing to buy?
100
scarcity
What is the term for not enough goods to satisfy all wants?
200
proprietorship, partnership, corporation, entrepreneurship
What are the 4 types of businesses?
200
mixed economy
What is the most common economic system?
200
both people and government
What is who makes economic decisions in the U.S.?
200
supply
What is the amount of goods a producer is willing to sell?
200
price
What is the word for the amount of money exchanged for a good or service?
300
corporation
What is the type of business organization which limits liablity to the money invested?
300
command
What is the type of economy where the government makes all the decisions?
300
minimal government interference
What is a free market economy best known for?
300
go down
What is what happens to demand when prices rise?
300
incentives
What is the term for things that motivate people to change economic behavior?
400
partnership
What is the type of business organization where owners share all of the risks and all the profits?
400
free market
What is the type of economy based on consumer sovereignty?
400
private property, free markets, profit, consumer sovereignty, and competition
What is characteristics of the U.S. economy?
400
price of the product
What is the amount of supply or deman for a product based on?
400
entrepreneur
What is a person who takes risks in order to make profit?
500
corporation
What is the type of business that is treated as a legal person no matter how many owners there are?
500
amount of government involvement
What is how the type of economy a country has is determined?
500
private individuals and businesses
What is who owns most resources in the U.S.?
500
the interaction of supply and demand
What is how price is detemined in the market place?
500
resources
What is the term for labor, land, and capital?
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