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Vocabulary
Monkey Business
Supply and Demand
This little piggy went to market
Vocabulary, too
100
the amount a seller is willing to produce
What is supply?
100
the type of business where an owner keeps all of the profits
What is sole proprietorship?
100
the law that says if price goes up you will buy less
What is law of demand?
100
type of monopoly that is the result of the location of the business
What is a geographic monopoly?
100
the amount of money earned after taxes are taken out
What is gross pay?
200
the desire, willingness, and ability to buy a product
demand
200
the business type that may have conflicts with owners
What is partnership?
200
total receipts goes up but change in goes down
What is elasticity?
200
type of monopoly when someone invents a new drug
What is technological monopoly
200
a charge that does not change based on amount of use
What is fixed cost?
300
the point where too little is produced
What is shortage?
300
the type of business that uses stocks to raise money
What is a corporation?
300
greater quantities will be supplied at higher prices
What is the law of supply?
300
this type of bankruptcy causes the business to lose all its possessions
What is chapter 7?
300
ownership in a corporation
What is stock?
400
a company that has 4 or more types of businesses
What is a conglomerate?
400
the business type that has limited liability
What is a corporation?
400
new fads would cause the demand curve to shift in this direction
What is a shift to the right?
400
Where are the stocks of the 30 largest corporation of different industries found?
What is Dow Jones
400
a potential legal situation where you can not pay your debt
What is bankruptcy?
500
condition where only a few sellers dominate the market
What is an oligopoly?
500
the business type that can make quick decisions
What is a sole proprietorship?
500
soda and pretzels is an example of
What is a complement
500
an electric bill is an example of this cost
What is variable cost?
500
When a company combines with another company
What is a merger?