Show:
TERMS
BUSINESS ORGANIZATIONS
DEMAND/SUPPLY SHIFTIER
MARKET STRUCTURE
UNEMPLOYMENT
100
A Condition that exists when we do not have enough resources to meet the wants and needs of people
What is scarcity
100
Business owned by one person
What is Sole Proprietorship
100
consumer income
What is Demand Shiftier
100
One single producer makes up the entire market
What is Monopoly
100
People of working age that are actively seeking work
What is Labor Force
200
The desire, willingness, and ability to buy a product
What is Demand
200
A business owned by stock holders
What is Corporation
200
Consumer Taste
What is Demand Shiftier
200
Many, many, producers, no difference in the products
What is Perfect Competition
200
Based on the changes in seasons or of seasonal jobs
What is Seasonal Unemployment
300
Extra usefulness or satisfaction
What is Marginal Utility
300
A business that is owned by more then one person
What is Partnership
300
Technology/Productivity
What is Supply Shiftier
300
A united side effect that benefits or hurts a 3rd party.
What is Externality
300
The number of unemployed individuals divided by the number of people in the labor force
What is Unemployment Rate
400
A situation in which the quantity supplied is greater then the quantity demanded
What is Surplus
400
A person who is just financially apart of a business
Who is a limited partner
400
Cost of inputs
What is Supply Shiftier
400
Many Producers in the market, the products are not identical , they have small differences. Usually contains many different advertisements
What is Monopolistic Competition
400
Follows the movement of the business cycle
What is Cyclical Unemployment
500
Allows for a "Hands Off" economy
What is Laisse Faire
500
Has a hard start-up, is owned by the stock holders, has a unlimited life, and limited liability
What is a Corporation
500
Expectations
What is Demand or Supply Shiftier
500
A few firms make up the most of the market for this product, products may or may not be identical.
What is Oligopoly
500
Temporary unemployment caused by people transitioning between jobs
What is Frictional Unemployment