Supply
Demand
Economics
Businesses
Economies
100
What is supply
What is the quantity or amount of product that is available
100
What is demand?
What is the amount or quantity provided that consumers will buy at all prices
100
The study of how people seek to satisfy their needs and wants by making choices
What is economics
100
Proprietorship, partnership, corporation, monopoly, and mergers are all types of what
What is businesses
100
Command, Traditional, Market, Mixed
What are the types of economies
200
Products supplied that are necessary are called what
What is normal goods
200
A graphic representation of the demand schedule is a what
What is a demand curve
200
Making money on a yearly basis is what
What is salary
200
A type of business where all of the money contributed comes from a personal bank account
What is proprietorship
200
Also known as a command economy
What is a centrally planned economy
300
As prices increase, the quantity supplied should increase. This is called what
What is law of supply
300
A table that lists the quantity of a good that a person will purchase at each price in a market is
What is a demand schedule
300
This is made based on rational consumers and limited resources
What is alternatives
300
A legal agreement defines how which type of business operates
What is partnership
300
A market economy is based of this principle
What is free enterprise
400
When producers cannot or will offer goods at the current price, there is a what
What is shortage
400
This demonstrates that when a good's price is lower, consumers will buy more of it
What is demand curve
400
The greatest determining factor when making economic choices is what
What is prices
400
This type of business is formed when two or more businesses come together to form one
What is a merger
400
A combination of a market and a command economy
What is a mixed economy
500
When there are a limited amount of resources to meet unlimited wants, there is a what
What is scarcity
500
When demand is ________, consumers will only change their consumption slightly
What is inelastic
500
The flow of the economy is demonstrated in what
What is circular flow chart
500
The Sherman Anti-trust law was created to keep this type of business from forming
What is a monopoly
500
Our economy is this
What is a market economy
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