Types of Businesses
Circular Flow
Economic Systems
Random
100
Business described in this picture.
What is a sole proprietorship?
100
Circular flow is the constant movement of resources and THIS.
a. entrepreneurs
b. money
c. businesses
What is b. Money?
100
What is a traditional economy?
100
What do you call this model?
What is CIRCULAR FLOW?
200
Type of business with these owners.
What is a CORPORATION?
200
What best replaces the question mark?
What is consumer spending/money?
200
Private ownership of property/resources with little to no government involvement.
What is a free market economy?
200
Economic system represented by this cartoon.
What is a COMMAND ECONOMY?
300
Business where risks and profits are shared among 2 or more owners.
What is a partnership?
300
In exchange for providing resources, what do individuals get?
What is money/wages/income?
300
This diagram best represents this economic system.
What is a command economy?
300
The United States is this type of economy.
What is a mixed economy?
400
A person who starts their own business - takes a risk to produce and sell goods and services in search of profit.
What is an entrepreneur?
400
What best replaces the question mark?
What is businesses or firms?
400
Economic system: The government’s role is greater than in a free market economy and less than in a command economy.
What is a mixed economy?
400
Supply and demand as buyers and sellers interact in the marketplace determines...
What is price?
500
Business organization that is authorized by law to act as a legal entity.
What is a corporation?
500
In exchange for their money, what do producers give to households?
What are goods/services?
500
What are the 3 basic questions of economics?
What is
What will be produced?
How will it be produced?
For whom will it be produced?
500
In the United States, government involvement in the economy is...
What is limited or minimal?