Factors of production
Revenue ->
Firms
What is a horizontal merger
A merger of two or more firms that compete in the same market
Employment is ?
If you are at least 16 y/o and meet certain requirements
The cost required to make a product / perform a service
Changes in input cost
What is minimum wage also known as
Price floor
How does a firm help
It gives us goods and services
Vertical merger
What is one requirement to Ben considered employed
15 hours w/o pay in a family business
1 hour of pay
Or had a job but didn’t work
A government payment
Subsidies
What is price ceiling
The highest price they can ask for or charge to regulate items
What is a firm
A corporation
Merger of at least three companies
Conglomerate
If you don’t meet employment qualifications you are
Unemployed
Does regulation increase or decrease
Increase
Lower safety =?
Higher wages
What is a house hold
Provides the labor market
Why do corps decide to merge companies
It’s can help make them more money as they grow
What is labor force
Nonmilitary people who are employed and unemployed
Demand that is sensitive to change
Elasticity
After 40 hours of work you get?
Over time