Business Models
Models of Competition
Economic Terms
The Federal Reserve
Tax
100
The number business models that we discussed in class.
What is 4?
100
Total control over price.
What is a monopoly?
100
A general rise in the price level of goods and services.
What is inflation?
100
The number of federal reserve districts there are in the United States.
What is 12?
100
Each taxpayer pays the same percentage of their income in taxes.
What is a proportional tax
200
Pro- You are your own boss.
What is a Sole Proprietorship?
200
No barriers to entry.
What is a perfect competition or monopolistic competition?
200
The amount in a year by which government spending is greater than government income.
What is a budget deficit?
200
One of the three parts of the federal reserve system along with the federal reserve district banks and the federal open market committee.
What is the board of governors?
200
takes a higher percentage of taxes from a person with a higher income than it does from a person with a lower income.
What is a progressive tax?
300
Pro- Responsibility for the business is shared between two or more individuals.
What is a partnership?
300
There are few sellers
What is an Oligopoly?
300
The amount in a year by which government income is greater than government spending.
What is a budget surplus?
300
The number of members of the board of governors.
What is 7?
300
Takes a larger percentage of tax from the income of a person with a lower income than from a person with a higher income.
What is a regressive tax?
400
Con- There is a high rate of taxes.
What is a corporation?
400
There is one seller
What is a monopoly?
400
The total dollar value of all final goods and services produced within the country in a year.
What is Gross Domestic Product or GDP?
400
The total number of members on the Federal Open Market Committee.
What is 19?
400
a tax levied on the net value of the estate of a deceased person before distribution to the heirs.
What is an estate tax?
500
Pro- Long and successful track record for doing business.
What is a franchise?
500
There is a large number of sellers and there is a small amount of product differentiation.
What is a monopolistic competition?
500
The transferring of manufacturing or other tasks, such as data processing, to countries where labor and supplies are less expensive
What is outsourcing?
500
The federal reserve district president that always has a vote on the federal open market committee.
What is the federal reserve district president of New York.
500
an type of taxation imposed on the manufacture, sale, or use of certain types of goods and products.
What is an excise tax?
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