Business Cycle
The lowest point in a business cycle is call?
Trough
Why do firms usually lower their prices?
What is compete
When creating and running a business you need
Variety of Skills
What is a venture?
What is an entrepreneur that takes risks
The highest point in a business cycle is called
Peak
Percentages of small businesses is
what is 90%
What is Factors of Production?
Land, Labor, Capital, Entrepreneur
What is intangible products
what is services
What is the business Cycle based off of?
G.D.P
What is the reason of good competition?
what is quality
What is Scarcity?
When demand exceeds supply
what is tangible products?
what is goods
The word Introduction in the business cycle means?
The start or beginning of the business.
What is the importance of Factors of Production
This help run the business
what is equilibrium?
when demand and supply are equal.
What is supply?
People are interested in business because its new.
What is elastic demand?
Prices create a change on demand
Mixed Economy
What is Demand
The quality of goods or service that consumers are willing to buy.
What is willing to buy