Political & EconomicAnalysis
Global Analysis
Free Enterprise System
Legal & Ethical Issues
Types ofEconomy
100
Organized way a nation provides for the needs and wants of its people.
What is an Economy?
100
The exchange of goods and services among nations
What is International Trade?
100
Encourages individuals to start and operate thier own businesses in a competitive system, without government involvement.
What is The Free Enterprise System?
100
Being able to choose your own work hours
What is Flextime?
100
Answers often based on cultural or religious practices and ideals that have been passed from one generation to the next.
What is Traditional Economy?
200
Land, labor, capital, and entrepreneurship are also known as:
What are Resources?
200
Goods and services purchased from other countries
What are Imports?
200
A government-issued exclusive right to make, use, or sell an invention for up to 20 years.
What is a Patent?
200
Working at home, usually on a computer.
What is Telecommuting?
200
Individuals and companies own the means of production and businesses compete for consumers.
What is Market Economy?
300
The difference between what consumers want and need and what the available resources are.
What is Scarcity?
300
What is the value that a nation gains by selling what it produces most efficiently.
What is Comparative Advantage?
300
A brand name, brand mark, trade name, trade character, or a combination of these elements that is given legal protection by the federal government.
What is a Trademark?
300
Guidelines for good behavior.
What is Ethics?
300
A social, political, and economic philosophy in which the government, usually authoritarian, controls the factors of production.
What is Communism?
400
A term for the phases expansion, recession, trough, and recovery.
What is The Business Cycle?
400
A tax on imports
What is Tariff?
400
The exclusive right to reproduce or sell a work authored by an individual, such as writings, music, and artwork.
What is a Copyright?
400
When companies make an effort to produce and promote environmentally safe products.
What is Green Marketing?
400
A political and economic philosophy characterized by marketplace competition and private ownership of businesses.
What is Capitalism?
500
Skills of people who are willing to invest their time and money to run a business.
What is Entrepreneurship?
500
Occurs when a country has natural resources or talents that allow it to produce an item at the lowest cost possible.
What is Absolute Advantage?
500
A term that represents patents, trademarks, copyrights, and trade secrets.
What are examples of Intellectual Property Rights?
500
Pricing products unreasonably high when the need is great or when consumers do not have other choices.
What is Price Gouging?
500
A country’s government makes economic decisions and decides what, when, and how much will be produced and distributed.
What is Command Economy?
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