Show:
Types of Business Ownership
Factors of Production
Inflation and CPI
Types of Unemployment
Miscellaneous
100
oldest, simplest and most common type of business organization (70%)
What is sole proprietorship?
100
human resources; the payment is wages
What is labor?
100
rise in the general level of price of goods and services in an economy over a period of time
What is inflation?
100
unemployment directly related to swings in the business cycle
What is cyclical?
100
taxes issued by local and state government
What is sales?
200
Partners enjoy equal decisions and share authority
What is general partnership?
200
natural resources; the payment is rent
What is land?
200
comparison of the price of a market basket of typical goods and services for an urban household from a fixed point of reference
What is consumer price index (CPI)?
200
Unemployment caused by workers changing jobs or waiting to go to new ones
What is frictional?
200
TRUE or FALSE: property taxes are a revenue for the us federal budget.
What is FALSE?
300
contains board of directors and also responsible for dealing with how the organization raises funds
What is corporation?
300
the payment is profit
What is entrepreneurship?
300
percent change in the price level
What is inflation rate
300
caused by a fundamental change in the economy that reduces the demand for some workers
What is structural?
300
in a recession, what does fiscal policy help?
What is expansionary fiscal policy?
400
what disadvantage is shared between sole and general partnership?
What is unlimited liability?
400
man made tools; the payment is interest
What is capital?
400
persistent high inflation combined with high unemployment and stagnant demand in a country's economy
What is stagflation?
400
annual changes in the weather or other conditions that prevail at certain times of the year
What is seasonal?
400
the study of choices people make to satisfy their needs and wants.
What is economics?
500
least permanent for of business ownership
What is sole proprietorship?
500
productive resources that make up the four categories
What is factors of production?
500
includes 80,000 items in 8 major groups
What is market basket?
500
total number of adult non institutionalized civilians who are either working and on a pay roll or are actively seeking work
What is labor force?
500
purpose is to maximize income and profit so the system will be efficient in the free enterprise economy
What is incentives?