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Taking Over For
The 99
And The 2000
100
What are the four factors of production
Land labor capital entrepreneurship
100
Would a marine in Afghanistan be considered Employed, Unemployed or Neither?
neither
100
What is a boycott
answers may vary
100
Give an example of a law in the US that was implemented to encourage competition
Sherman Anti-Trust Act
100
What is risk?
The chance that an investment's actual return will be different than expected.
200
Raymond's Auto Repair would be an example of which business organization
Sole Proprietorship
200
What is a recession?
A significant decline in activity across the economy, lasting longer than a few months
200
What is a public good?
a good that is provided (for free) to the people (usually by the government)
200
What is a partnership?
business ran by two (or more) people each sharing in all aspects of work
200
What is a trade-off?
The action of giving up one benefit in order to gain another, greater benefit
300
$600 9% interest 8 years Find the simple interest
$432
300
What type of tax would a sale tax be considered as?
Regressive
300
What is a traditional economy
Traditional economies still produce products and services that are a direct result of their beliefs, customs, traditions, religions, etc.
300
What is a boom?
a period of time during which sales of a product or business activity increases very rapidly
300
What is a progressive tax?
Progressive taxes take a larger percentage of income from individuals in high-income groups than from those in low-income groups. Progressive taxes are based on the ability to pay
400
What is the definition of land as it refers to the Four factors of production
the economic resources encompassing natural resources found within a nations economy
400
What are the four market structures?
Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly
400
What is a command economy?
•controlled by a centralized power; often, a federal government.
400
Give an example of a substitution
answers will vary
400
what is a regressive tax?
A Regressive tax is a tax that takes a larger percentage of income from low income groups than from high income groups Regressive taxes tax all individuals the same dollar amount regardless of their income level
500
What is perfect competition
...
500
The three productive resources are...
human, capital, natural
500
Draw a supply and demand curve... mark the equilibrium
...
500
Draw a circular flow chart...
...
500
What is a proportional tax?
With proportional taxes, all taxpayers, regardless of income, pay the same flat rate. Although taxpayers are taxed at the same rate, proportional taxes can be considered regressive. A larger portion of income is taken from those with lower incomes.