Cards in this guide (17)
The automotive manufacturing business in the US Is an example of what type of market
AoligopolyBmonopolyCfarmDmarket competition
What is the Abbreviation of entrepreneurship
What is the reward for labor
What is it called when a country brings in goods it needs from another country
A capitalistic system is often called this because the market place is noted by buyers and sellers openly interacting
Laissez-faire economics was a doctrine proposed in the late eighteenth century by this man
Laissez- faire was proposed by Adam Smith in his book The Wealth
of Nations.
A place where buyers and sellers meet to exchange goods and services for money is called
The fdic basically insures bank deposits to what amount
tions below:
Aone dollarBtwo dollarsC$100,000D$1,000,000
A scarce commodity used in an economic system
A scarce commodity used in the context of an economic system is
something that there is less of than what is needed. Examples are
gasoline during a gas crisis, wheat after a drought, etc.
What is it called when a few large companies control an industry
An economic system in which the central government directs all major economic decisions
an economic system in which the central government directs all
major economic decisions
An economic entity in and of itself and which is also owned by its shareholders
corporation or partnership
A monopoly permitted by and regulated by the government for its greater social good such as a telephone company
Cost of the next best alternative when one choice is made rather than another is
Aprice levelBopportunity cost or trade offCincomeDsupply
Can the oligopoly market structure benefit both consumers and businesses by forging common standards in industries that experience rapid technological change
The oligopoly market structure can benefit both consumers and
businesses by forging common standards in industries because it
would provide fewer sellers and more purchasers, which would mean
lower prices for everyone and higher profits for the
businesses.
Who pay to oversea supplier under high sea sale
The first buyer pay the amount
What is pure form of capitalism where market forces operate without government called
Laissez faire government is government that stays out of the
free market. Laissez faire is French for "let alone".
