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Intro To Business Chapter 2 Period E Flashcards | StudBud

Explore/Intro To Business Chapter 2 Period E

Intro To Business Chapter 2 Period E

10 terms·StudBud Administration·10 plays

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Questions 10

Answers

1
What is the equilibrium price?
Price that customers agree on
Price at which amount supplied and amount demand met
Price at which amount supplied and demand are almost met
Average price of supplies
2
What is the direction of a Supply Curve
Top left to bottom right
Top right to bottom left
Straight across
Straight up
3
What are two forms of command economy?
Capitalism and Communism
Communism and Socialism
Republican and Democrat
Socialism and Economy
4
What is the study of how society chooses to use resources to produce and distribute goods
Finances
Entrepreneurship
Economy
Economics
5
What percent of oil does Canada supply?
11
15
17
13
6
What is demand?
Amount of goods
Amount of money
Amount of customers
Amount of goods&services
7
What is Supply?
How many goods or services are sold
How many goods or services
How many goods or services are produced
How much goods or services are
8
What is the direction of a Demand Curve?
Top left to bottom right
Straight up
Top right to bottom left
Straight across
9
What is a market economy?
Decisons are made by the upper employees
Decisions are made according to supply and demand
Decisions are made in a central agency
Decisions are made by the customers
10
What are raw materials found in nature called?
Human Resources
Natural Resources
Entrepreneurship Resources
Capital Respurces