Market Strutures
This is the least competitive market structure, with only one major firm controlling the market.
What is a monopoly?
This type of business structure is the most common, most likely because it is the easiest to start.
What is sole proprietorship?
When the government spends more than it brings in, it can accumulate over the years and becomes this.
What is debt?
In economics, this is the term for effort of each supplier to be the one who meets the demand of as many consumers as possible.
What is competition?
This was the year that Woodbridge HS was founded.
What is 1980?
In this type of market structure, a few firms control the majority of the market, which can lead to competition or (illegally) cooperation.
What is an oligopoly?
This type of business structure allows for multiple parties to join together to share risks and profits.
What is a partnership?
This type of government spending is required by law.
What is mandatory spending?
This makes up the largest amount of revenue for government spending.
What is individual income taxes?
This film won the 2022 Oscar for Best Picture.
What is Coda?
This type of market structure is the most competitive, with price being used to differentiate between identical goods/services.
What is perfect/pure competition?
This type of business structure is able to raise the most financial capital, mainly through the sale of stocks.
What are corporations?
This is the term for when spending supersedes revenue.
What is deficit?
This is the largest category of government spending that is not required by law.
What is Defense?
What is Science?
This refers to the obstacles that prevent businesses from entering a market.
What are barriers to entry?
This is the term for accepting responsibility for a business, usually in the form of legal responsibility to pay debts.
This is the term for government spending that is involves annual decisions as to where to allocate funding.
What is discretionary spending?
When a private company sells shares of stock to the public for the first time, it is called this.
What is an Initial Public Offering (IPO)?
Mrs. Vick competed (very successfully!) in this sport growing up.
See teacher for validation.
This is the term for a product that is the same no matter who produces it, such as petroleum (gas), notebook paper, or milk
What is commodity?
In this type of business structure, a larger (parent) company allows for exclusive sales rights to an individual in return for royalties and fees.
What is a franchise?
Name two areas that receive funding from mandatory government spending.
This is the term for a formal organization of producers that agree to coordinate prices and production.
What is a cartel?
Name the four teams left in the 2022 NCAA Final Four for Men's College Basketball.
What are Duke, North Carolina, Villanova, and Kansas?