Types of Economy
Goals of the Economy
National Matters
Unemployment
Types of Businesses
100
Government controls the economy.
What is Command Economy?
100
Equal pay for equal work.
What is Economic Equity?
100
The amount money owed by the Federal Government.
What is National Debt?
100
Unemployment changes when the seasons change.
What is Seasonal Unemployment?
100
One person owns a business.
What is Sole Proprietorship?
200
The government steps in when it is needed.
What is Mixed Economy?
200
Less than 3% unemployment.
What is Full Employment?
200
How much over budget the government is in a year.
What is National Deficit?
200
Workers who are in between jobs and are actively looking for a job.
What is Frictional Unemployment?
200
Two or more people own a business.
What is Partnership?
300
Produces what has been produced in the past.
What is Traditional Economy?
300
Use of scarce resources well and not wasteful.
What is Economic Efficiency?
300
Total value of all goods and services produced in a nation over a period of time.
What is GDP?
300
Changes in the work place.
What is Structural Unemployment?
300
A firm that exists as a legal entity in the same way a person does.
What is Corporation?
400
The government is not involved in any way.
What is Market Economy?
400
Social Security.
What is an example of Economic Security?
400
Shows monthly changes in the price of goods and services.
What is CPI?
400
Unemployment directly related to swings in the business cycle.
What is Cyclical Unemployment?
400
Wal-Mart.
What is example of a Corporation?
500
Cuba is one.
What is Command Economy?
500
Consumers and Producers make their own economic decisions.
What is Economic Freedom?
500
Spend less than your budget.
What is Budget Surplus?
500
100 workers gets fired and five machines take their jobs.
What is example of Structural Unemployment?
500
Local food stand.
What is an example of Sole Proprietorship?
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