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Economies
Market Economy
Business
Labor
Managing Money
100
Command, Traditional, and Market
What are the three types of economies?
100
Payment for the use of capital, like a loan from a bank.
What is interest?
100
The motivation for people in a capitalist economy to start a business.
What is Money?
100
Organizations of workers that seek to improve wages and working conditions and protect members' rights.
What are Unions?
100
A manufacturers promise to repair or replace a product if it breaks within a certain amount of time from when you bought it.
What is a warranty?
200
The three basic factors of production.
What are land labor and capital?
200
The amount of a product BUYERS are willing to BUY at different prices. Who has a longer line?
What is Demand?
200
A business owned by an individual.
What is a sole proprietorship?
200
Union members did this to try to gain attention from business owners.
What are strikes, boycotts, sit-ins, slowdowns?
200
The ability to turn savings into cash quickly. Savings and checking accounts.
What is Liquidity?
300
Limited resources compared to the wants of the people.
What is scarcity?
300
The AMOUNT of a product that producers are willing and able to offer at different prices.
What is Supply?
300
A type of business in which two or more people share ownership of a business.
What is a Partnership?
300
Business owners do this when union workers are on strike.
What are Strikebreakers, Police Action, Lockouts, Yellow-dog Contracts and Blacklists?
300
A plan to manage your money. Monitors your income and expenses.
What is a budget?
400
A type of economy where the government makes most to all economic decisions
What is a command economy?
400
The price that buyers and sellers agree on.
What is market price?
400
A business that is separate from the people who own it and legally act as one person.
What is a Corporation?
400
The importance of the Wagner Act of 1930.
Employers now have to bargain with Unions, can not fire employees for joining unions and shortened work hours.
400
A plan where a company gives protection from loss or injury. JUST IN CASE.
What is Insurance?
500
The United States has this type of economy.
What is a market or mixed economy?
500
A person who starts his or her own business.
What is an Entrepreneur?
500
The most common form of business ownership in America.
What is a sole proprietorship?
500
The process where Union leaders and business owners sit down and try to come to agreements.
What is collective bargaining?
500
The occupation for which you train and which you pursue as your life's work.
What is a Career?