Economics Module 3 Vocabulary

A business co-owned by two or more people who agree on how responsibilities, profits, & losses

A business composed of companies that produce unrelated goods or services

A business owned by shareholders who own the rights to the company’s profits (stock game)

The combining of >2 businesses involved in different steps of producing or marketing a product

How does the pay level of women compare to that of men?

organization of workers that seeks to improve wages,working conditions, benefits,job security

A market structure in which many sellers offer similar but not identical products to consumers

institution that acts like a business but exists to benefit society rather than to make profit

The combination of vision, skill, ingenuity, and willingness needed to run new businesses

Which one of these products is a(n) commodity?

Which of the following types of corporate earnings leads people to say they are taxed twice?

Shares of ownership in a corporation

The ideal model of a market economy; well-informed and independent sellers

market structure in which only 1 seller sells a product for which there areno close substitutes

A business owned and controlled by one person

Another name for capitalism, economic system based on private ownership of productive resources

A market structure in which only a few sellers offer a similar product (2-4/70%-80% of market)

Deregulation of cable companies has led to