Economics Unit 1

Large industries are planned in mixed economies at what cost to their people?

All unions require members to:

Why are there no truly free markets?

A cost/benefit analysis is completely an individual bias.

Limited resources for unlimited wants and needs is called?

An entry level position (cashier) would be categorized in which labor category?

Who was the free market philosopher who explained the "invisible hand"?

Companies, like Walmart, have the power to __________ empolyees who threaten to unionize.

An employee in waste management (garbage collector) would be categorized in which labor category?

Which is not a factor of production?

An entrepreneur could invest in a business but use another companies products by opening a:

Government programs that help people with housing, welfare, etc. are called:

Unions want all the following during collective bargaining EXCEPT:

Position E indicates:

A production posibility graph visually explains:

The relationship that motivates a buyer and a seller is called:

Strikes are good for the union and it's members.

Position D indicates:

People buy stock (shares) for all the following EXCEPT:

The struggle among producers for a consumer's business is called:

Governmental control of the factors of productions describes:

An injuction could be used to temporarily stop a strike.

Purchasing a company that supplies parts for your factory's product is called a horizontal merger.

An inventor is an entreprenuer.

90% of stock is common stock.

Corporations are considered ________ under the law.

A neutral third party who would make suggestions during collective bargaining is called:

The government agency that monitors corporate mergers is the: