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Economics

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Quinton Schimmel

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Term1/15
What was the social economic and political impact of World War 1 globally
Definition1/15

poltical impacts from world war one

Term1/15
What Type of business has one or more individuals share responsibility for the decisions of the company
Definition1/15

Partnership

Term1/15
What term is used to describe a business that becomes that it literally swallows up the competition
Definition1/15

This would be called a monopoly. The game is based off this theory. If a company has no competition it is considered a monopoly. The steel business in the south before the Civil War was a monopoly because one one or two businesses made steal, making collaboration to increase profits easy.

Term1/15
V-shaped contour lines pointing uphill indicate a
Definition1/15

A Valley

Term1/15
What is the nickname for laissez faire
Definition1/15

free market economy

Term1/15
Adam Smith believed that government should intervene in economic activities
Definition1/15

False

Term1/15
True or false Economists study the processes of the human mind
Definition1/15

False - economists are concerned with the production and consumption of goods and services and the analysis of the commercial activities of a society

Term1/15
What profession would you want to your mate to have just because it will be useful in the house
Definition1/15

house keeper, mechanic, plumber, carpenter, doctor, chef, electrician

Term1/15
Under this system the government owns nearly all the means of production and directs all important economic activities
Definition1/15

communism

Term1/15
What type or organization has pro as a URL
Definition1/15

the answer is licensed professionals such as doctors, lawyers,etc.

Term1/15
What philosophy states that government should not involve itself in business
Definition1/15

Laissez-Faire Capitalism

Term1/15
What form of Capitalism can survive in a Communist country
Definition1/15

No form of capitalism can survive in a Communist country. Capitalism is based on a free market economy and communist is based off of a mentality that everyone is there for everyone.

Term1/15
What did they call delegates who proposed independence during the American revolution
Definition1/15

Patriots.

Term1/15
Macreconomics is the study of
Definition1/15

Macroeconomics is the study of the economy as a whole instead of individual markets.

Term1/15
Which of these was an effect of the industrial revolution at the end of the nineteenth century in the United states
Definition1/15

women suffrage

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Cards in this guide (15)
What was the social economic and political impact of World War 1 globally

poltical impacts from world war one

What Type of business has one or more individuals share responsibility for the decisions of the company

Partnership

What term is used to describe a business that becomes that it literally swallows up the competition

This would be called a monopoly. The game is based off this theory. If a company has no competition it is considered a monopoly. The steel business in the south before the Civil War was a monopoly because one one or two businesses made steal, making collaboration to increase profits easy.

V-shaped contour lines pointing uphill indicate a

A Valley

What is the nickname for laissez faire

free market economy

Adam Smith believed that government should intervene in economic activities

False

True or false Economists study the processes of the human mind

False - economists are concerned with the production and consumption of goods and services and the analysis of the commercial activities of a society

What profession would you want to your mate to have just because it will be useful in the house

house keeper, mechanic, plumber, carpenter, doctor, chef, electrician

Under this system the government owns nearly all the means of production and directs all important economic activities

communism

What type or organization has pro as a URL

the answer is licensed professionals such as doctors, lawyers,etc.

What philosophy states that government should not involve itself in business

Laissez-Faire Capitalism

What form of Capitalism can survive in a Communist country

No form of capitalism can survive in a Communist country. Capitalism is based on a free market economy and communist is based off of a mentality that everyone is there for everyone.

What did they call delegates who proposed independence during the American revolution

Patriots.

Macreconomics is the study of

Macroeconomics is the study of the economy as a whole instead of individual markets.

Which of these was an effect of the industrial revolution at the end of the nineteenth century in the United states

women suffrage

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