Presley
This type of economy has elements of both a market economy and a planned economy.
What is a mixed economy?
What are capital resources?
Non-verbal, written, and aural are all types of this
What is communication?
Price of Inputs is this type of determinant
What is a supply determinant?
In this type of economy, individuals are free to engage in business transactions
What is a market economy?
Work experience, education history, volunteer service, and skills are all relevant sections of this document.
What is a resume?
This is the total dollar value of all final goods and services produced in a country during one year
What is Gross Domestic Product?
An economic cycle in which unemployment is declining and GDP in increasing.
What is recovery?
An economic slowdown following a period of prosperity is called this.
This is the fundamental problem of economics
What is scarcity?
This skill is valued across all types of industries and is classified as the ability to work with others to create projects and plans
What is teamwork?
A market for a good or service where there is only one supplier, or that is dominated by one supplier.
What is a monopoly?
When prices for grain rise after a drought, the increase in price is caused by a drop in this.
What is supply?
Information about a person's performance or task, used primarily as a basis for improvement
What is feedback?
This is the metric used to measure inflation
What is Consumer Price Index (CPI)?
This is the point on the supply and demand curve where S and D intersect
What is equilibrium price?
These are the four type of economic resources
What are natural resources, capital resources, human resources, and entrepreneurship?
This is the term for people that may be contacted to speak about our work history. We often indicate we have them on the final line of our resume.
Who are references?
This is the action or process of interacting with others to exchange information and develop professional or social contacts in order to achieve career success
What is networking?
This is the term for a situation when supply exceeds demand.
What is a surplus?
This is the phase of the business cycle that sees the lowest unemployment.
This keeps prices at a reasonable level in a market economy
What is competition?
Time management, communication, and problem solving are all considered to be these
What are soft skills?
This is an illegal activity between two or more parties to limit competition and gain an unfair advantage
What is collusion?
This is one's ability to see, hear, or become aware of something through our senses
What is perception?
This is a product or service that consumers see as essentially the same or similar-enough to another product.
What is a substitute?
DAILY DOUBLE!!!!!!!!!!!!!
FOR 1,000 POINTS!!!!!!!!
These are the five determinants of demand
What are:
1. # of Buyers in the Market
2. Expectations
3. Price of Related Goods
4. Tastes/Preferences
5. Income
This refers to the quantity of products and services that consumers are willing and able to buy at a particular price
What is demand?
This is a sustained increase in prices over a broad array of goods and services
What is inflation?
A market structure in which a few large firms dominate a market.
What is an oligopoly?