Fundamentals of Econ
This is total output for an entire country
Gross Domestic Product(GDP)
If demand of a product goes up, what must also go up to keep pace?
Supply
Mining is an example of this sector industry?
primary
This is a structure of two or more people, up to a maximum of twenty (20).
Partnership
This is a term when people are unable to find a job
Unemployment
The basic demand curve slopes in this direction.
Downward
Whenever a company is formed, the owners are usually called these:
Shareholders
This type of company is listed on a Stock Exchange
Public company
Taxes levied by the Government would describe what type of economics?
What is Macroeconomics
How are public goods paid for?
Taxes
The study of an individual’s personal financial situation would be what type of economics?
Microeconomics
Business size is generally classified by its (1)size and (2)this...
Market capitalization
In this structure, the owner and business are considered one...
Sole Trader (Proprietor)
This is the primary goal of a company.
Profit
Chris Rock on this economic rule: it's your boss saying If I could pay you less I would but it's against the law
Minimum Wage
Chief Executive Officer(CEO)
Shares of this kind of company are transferable, so ownership can change.
Private Company
This describes the purchase of machinery, equipment or tools used in production.
Capital
Looking at laws that govern wagess of an industry would be considered this type of economics
Macroeconomics
This is when people can spend money on their wants or luxuries
Discretionary spending
This is an example of a tertiary sector industry...
Any service or retail company (Ex. airlines, banks, internet companies)
The owner has to provide all the financing for this type of company.
Sole Trader