Market Structures
Business Types
Factors of Production
International Trade
Inflation
100
Businesses are often grouped together based on this practice that businesses often do when they try to outperform each other in their particular market.
What is competition?
100
This type of business organization is a business with one owner.
What is sole-proprietorship?
100
These 4 terms are used to describe the inputs that represent the factors of production.
What is land, labor, capital, and entrepreneurship?
100
This means to bring (goods or services) into a country from abroad for sale.
What is import?
100
This economic condition is the result of a general increase in prices and a fall in the purchasing value of money
What is inflation?
200
This market structure consists of businesses that make identical products, involves many competitors, and cannot control prices. Examples: farms
What is perfect competition?
200
This type of business organization involves two or more owners who often divide up responsibilities based on their skills. Examples: law firms, architecture firms, accounting firms
What is a partnership?
200
Natural resources or the raw materials that we need to produce goods are part of this factor or input.
What is land?
200
This means to send (goods or services) to another country for sale.
What is export?
200
This economic condition refers to a reduction in the general level of prices in the economy.
What is deflation?
300
This market structure involves many competitors, the production of similar but non-identical products, and some information is available through advertising. Examples: pizza places, delis, nail salons, clothing stores.
What is monopolistic competition?
300
This type of business organization is larger and a lot more complicated than others. It requires an article of incorporation which states the purpose of the business, how many stocks will be issued, and who will be involved in running the business.
What is a corporation?
300
Technology and other valuable inputs are part of this factor of production.
What is capital?
300
Governments often use this type of trade barrier in order to protect domestic producers. It is basically a tax on imports.
What is a tariff?
300
This government database is used to measure the change in the prices of goods and services over a period of time.
What is the Consumer Price Index?
400
This market structure involves few competitors, it is difficult to enter the industry, and there is plenty of information about these businesses through advertising. Example: soda companies, airline companies, insurance companies.
What is oligopoly?
400
These businesses form as a result of buying other companies that produce totally unrelated goods or services.
What is a conglomerate?
400
Workers are part of this input or factor of production.
What is labor?
400
This concept, related to international trade, is used to describe how events and trends in one country can have a negative or positive impact on the economy of another country.
What is interdependence?
400
This group of people benefit from long periods of inflation because the money they pay back is worth less than what they were originally loaned.
Who are borrowers?
500
This market structure involves only one business, no competition, complete control over prices, and it is very difficult or impossible to enter the industry. Examples: cable companies and utility companies.
What is monopoly?
500
This form of business consolidation results from the joining of two or more firms involved in different stages of producing the same good or service.
What is vertical consolidation?
500
This factor of production involves taking an idea and attempting to make a profit from it by combining all the other factors of production. This involves both risks and rewards.
What is entrepreneurship?
500
This condition is used to describe a country that does not need to engage in trade with other countries, particularly for imports. They are essentially independent from trade as opposed to interdependent through trade.
What is self-sufficiency?
500
This theory on the causes of inflation argues that prices rise when the money supply increases.
What is the Quantity Theory?
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