A type of business organization that is ran by one person.
What is sole Proprietorship?
100
An economic system where few restrictions are placed on business activities and ownership.
What is free enterprise?
100
As price increases, the quantity demanded decreases, and vice versa.
What is law of demand?
100
Managing the money supply to influence interest rates and availability of credit.
What is monetary policy?
100
A possession that generally increases in value or provides a return.
What is an asset?
200
A type of business organization ran by two or more people
What is a partnership?
200
An economic system where a range of economic and social systems characterized by social ownership and democratic control of the means of production.
What is socialism?
200
Tastes and preferences, price of related goods, income, population level, and expectations of future prices.
What are the non-price determinants of demand?
200
The federal reserve.
Who is responsible for monetary policy.
200
Something you acquire for future income and benefit.
What is a investment?
300
A business organization ran by a group of people, meant to act as a single entity.
What is a corporation?
300
An economic system where a social organization in which all economic and social activity is controlled by a totalitarian state dominated by a single and self-perpetuating political party.
What is communism?
300
Price plus quantity supplied raise, and vise versa.
What does the law of supply state?
300
The federal governments overall approach to spending, borrowing, and taxation.
What is fiscal policy?
300
Debt or money that you owe.
What is a liability?
400
You have full control over your business
What is an advantage of a sole proprietorship?
400
An economic philosopher who favored spending, and believed that spending would fix the economy.
Who is John Maynard Keynes?
400
Government regulations, expectations, taxes, subsides, technology, inputs, productivity, and sellers.
What are the non-price determinants of supply?
400
The federal government, the executive and legislative branches.
Who is in responsible for fiscal policy?
400
The difference between your assets and your liabilities.
What is net worth?
500
You are liable for everything that happens to your business
What is a disadvantage of a sole proprietorship?
500
An economic philosopher who wanted change, disliked war, understood real growth meant production, and favored Laissez - Faire.