Show:
A
B
C
D
E
100
A thing that we desire to have.
What is a want?
100
There is __________when resources are limited compared with the wants people have
What is Scarcity?
100
workers refuse to work until their demands are met
strike
100
What is interest?
The payment for the use of capital amount of a product ro service
100
a company gives protection from the cost of injury or loss
insurance
200
Land, Labor and capital
factors of production
200
To use your money to help a business get started or grow
Invest
200
The amount of products that producers are willing and able to offer at different prices is called
supply
200
Explain the purpose of labor unions?
strength in numbers
200
an occupation you train for and pursue as a lifework is known as your
Career
300
In a ____________, the government makes the basic economic decisions
What is a Command Economy
300
Today most countries have a ___________economy
Mixed
300
The laws of demand say that when product prices are down the supply is __________ (up/down)
Up
300
Which of the following is NOT considered earned income? a)Wage b)commission c)bonus d) savings
Savings
300
Indirect payment for work is know as (not bonus)
fringe benefits
400
An economy that is neither purely capitalist nor purely socialist.
What is a mixed economy?
400
The difference between cost to produce something and price the buyer pays
what is profit
400
Why do corporations sell stocks?
to share responsibility of debt.
400
He wrote "The Communist Manifesto" in 1848.
Who is Karl Marx?
400
Ability to turn savings to cash
Liquidity
500
Tools used to produce tools and services
What is technology
500
A person who starts a business
Entrepreneur
500
The market price for an item is determined by the laws of
The laws of supply and demand
500
The about of pay you receive for work (term)
Wages
500
a manufacture's promise to repair a product if it breaks within a certain time
warranty