Unit 3 Business Management

5% of a businesses average profits represent

A period when unemployment is at its worst falls under which economic situation?

Raising federal income taxes does what to economic growth?

Which of these is not a consumer good?

Renting/borrowing is an example of

During inflation, does the dollar buy more than it did before inflation?

Supply is

On average, how long do the 4 business cycles (expansion, peak, contraction, trough) last?

which of the following is not a way to increase economic growth?

The basic factors of production are:

True or False: A school cafeteria does not provide for an economic want

Unemployment occurs during

A period of high employment and rising wages and prices falls under which economic situation?

A period before unemployment rates start to climb falls under which economic system?

Going to a store to buy a canvas walking shoe when the store only has leather is an example of

Fundamentals of Capitalism include all except:

When demand increases, profit does what?

A shoe manufacturer creates

which of these is a phase of a 5 year business cycle

A decline in the GDP that lasts for 6 months or less is

Which of these is not a capital good?

Under which political-economic system can nearly any individual start a business?

Can economic-political systems be separated?

What type of economy is China attempting to move toward?

What % of total receipts is the average net profit of all business firms?

CPI is

True or false: under communism, an individual cannot completely own their property

The incentive of privatization is:

True or False: Command economies exist under dictatorships.

Increasing government spending for transportation does what to Economic growth?

Which country best satisfies the definition of a mixed economy?

Do consumers help decide what will be produced as well as how much will be produced?

Going to a bookstore for this weeks best selling novel which is in stock, is an example of:

Consumer goods _____

Which is a way economic growth can be measured?

Can a country produce as many capital goods as it wishes to produce at any one time?

The free enterprise system in the U.S is an example of:

Under socialism, which is not true?

Economic wants can be best described as

Prices dropping and graduates finding it harder to find jobs falls under which economic system?