Show:
market economy principles
business in the american economy
weapons of labor
weapons of business
random
100
people get a wage for working, then buy things, which gives someone else money, and the cycle continues
what is circular flow?
100
a person who starts a business with a goal to make a profit
what is an entrepreneur?
100
workers use weapons of labor to get a better deal
how do workers use weapons of labor?
100
owners use weapons of business to get a better deal
why do owners use weapons of business?
100
rent, interest, wages, and salaries
which payment do businesses exchange for factors of production?
200
the amount of product people are willing to buy
what is the law of demand?
200
a business owned by one person
what is a sole proprietorship?
200
everyone would sit down instead of working
what is a sit-down?
200
someone who is willing cross the picket line and go to work
what is a scab?
200
in order to raise large amounts of money
why do corporations sell stock?
300
the amount of products producers are willing to offer
what is the law of supply?
300
a business run by two or more people
what is a partnership?
300
workers would work as slow as possible
what is a slow down?
300
the police would protect the scabs from the workers on strike
why did owners need the police?
300
the wagner act and the start of the cio
what set the stage for the modern labor movement?
400
a graph where the line is pointing down, a graph where the line is pointing up? (from left to right)
what is a demand graph, what is a supply graph?
400
a business that is separated by the people that own it and legally acts as a single person
what is a corporation?
400
workers would ask people not to buy a certain product
what is a boycott?
400
the owner locks the facility and the workers aren't allowed to go to work
what is a lockout?
400
low wages, boring, dangerous jobs, and long workdays
why did wage laborers suffer in the 1800's?
500
the amount of product people are willing to buy equals the amount pf products producers are willing to offer (demand = supply)
what is the equilibrium price?
500
you make more income, you make all decisions, there are no disagreements
what are some advantages to having a sole proprietorship?
500
workers would stand outside the factory and form a picket line
what is a strike?
500
when owners hire workers the say that the worker will not join a union after being hired
what is a yellow-dog contract?
500
goods, services, labor, and money
what does our free market economy depend on the circular flow of?