The government may pass laws to promote ____________.
A competition
B discrimination
C fixed costs
D consumers
A competition
100
Legislature is ____________________________________.
a. a document that says who and what will be searched
b. all the money taken in by a business
c. a lawmaking branch of government
d. a business cost that changes
c. a lawmaking branch of government
100
What is an amendment?
a formal change to the constitution
100
If a business sold 6 hats for $3 each, what would be the total revenue?
$18
100
What is a constitution?
a plan of government
200
The fixed costs of doing business include ______________.
A property taxes
B office supplies
C capital goods
D worker’s wages
C capital goods
200
A free enterprise is _______________________________.
a. a lawmaking branch of government
b. a business cost that changes
c. a trade that people make by choice
d. another name for a capitalist or market economy
d. another name for a capitalist or market economy
200
Who is called the "Father of the Constitution"?
James Madison
200
If it cost a business $4 to produce each book and the business sold 5 books, what would be the total cost?
$20
200
Who issues a search warrant?
a judge
300
Amendment 14 defines ______________________.
A search warrants
B citizenship
C Bill of Rights
D private property
B citizenship
300
Voluntary exchange is ___________________________.
a. a business cost that changes
b. a trade that people make by choice
c. another name for a capitalist or market economy
d. someone who buys and uses products
b. a trade that people make by choice
300
What amendment defines citizenship?
Amendment 14
300
If a business sold 11 shirts for $5 each and sold all of the shirts, what would the total revenue be?
$55
300
When a person transfers something and gets something back, that person is making a(n) ________________.
exchange
400
_______________ tells when the government can take private property.
A The legislature
B Amendment 14
C Total cost
D Amendment 5
D Amendment 5
400
Revenue is __________________________________.
a. all the money taken in by a business
b. a lawmaking branch of government
c. a business cost that changes
d. a trade that people make by choice
a. all the money taken in by a business
400
What is the Declaration of Independence?
a document explaining why American colonies should no longer be ruled by Great Britain
400
If a business's total revenue was $410 and their total cost was $240, what would their profit be?
$170
400
True or False- Section 8 of the Bill of Rights gives the president the right to control businesses.
False
500
The ________________ gets businesses to provide goods and services to us.
A profit incentive
B law
C Congress
D total cost
A profit incentive
500
A variable cost is ______________________________.
a. a lawmaking branch of government
b. a business cost that changes
c. a trade that people make by choice
d. another name for a capitalist or market economy
b. a business cost that changes
500
What does competition prevent?
profits from becoming too high
500
If a business's total revenue was $180 and their total cost was $230, what what be the loss for that business?
-$50
500
Why do producers need to satisfy their customers?
To keep their business, to make profit, to beat the competition, to get future business.