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Econ Unit 2 Flashcards | StudBud
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Econ Unit 2
Econ Unit 2
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Flashcards
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Questions
20
Answers
1
Firms exchange wages in the resource market for a households...
revenue
consumer goods
spending
factors of production
2
What is an example of something you would find in the resource market
Spending
Revenue
Goods
Human Capital
3
Most important decisions in a corporation are made by
stockholders
founders
board of directors
investors
4
Revenue would be placed in which box
D
A
C
B
5
Partnerships and sole proprietorship's are similar because
they answer to a board of directors
lower taxes and regulation
always take the same risk
one person takes all responsibility
6
Corporate consolidation is
the same as a partnership
a government giving a buyout
a corporation being bought out by a larger corporation
an illegal monopoly
7
Households spend money in the product market in exchange for a firms...
goods and services
profit
paycheck
wages
8
Which Fremont business would it be most likely to own a share (stock) of?
Spanky's
Jams
Sandy's Harley Davidson
Walmart
9
Income belongs in which box
A
C
B
D
10
A command economy embodies what type of government system
Capitalist
Democratic
Communist
Parliamentary
11
Wages belongs in which box
A
B
D
C
12
Spending belongs in which box
D
C
A
B
13
Traditional economies are based mainly on
Competition
Tradition
Science
Money
14
The US can be described as what type of system
Market
Traditional
Mixed
Command
15
Which Fremont business is most likely to face greater government regulation?
Walmart
Original Print Shop
Season's
Spanky's
16
Which is an example of something found in the product market
wages
capital
consumer goods
income
17
Factors of production belong in which box
C
B
D
A
18
Which is true of a Command economy
encourages workers to innovate
promotes selfishness
promotes equality
places emphasis on consumers
19
Communism is a
capitalist ideology
political ideology
democratic value
economic system
20
Goods and Services would be located in which box
C
A
B
D
