9 weeks test Flashcards

1

The part of the business cycle in which the economy starts to slow down is called

2

If the price of a product is above its equilibrium price, the result is a

3

Business cycles in the United States

4

Natural monopolies are businesses that

5

A major characteristic of a pure market economy is

6

One advantage of an oligopoly is

7

Another term for a capitalist system is a

8

What is opportunity cost?

9

All of the following are characteristics of a monopoly except

10

One factor of production is capital. All of the following are examples of capital EXCEPT

9 weeks test