Vocabulary Quiz Ch 1-9 Economics

An agreement among firms to divide the market, set prices, or limit production is called

Labor that requires advanced skills and education is called

What year did the "Great Crash" of the stock market occur?

Based on the graphic, which recession was the worst?

Land, labor, and capital is an example of

Who was the "Father of Capitalism"?

Too much supply and not enough demand leads to this

A market dominated by a single seller is called

An economic side effect that can be good or bad is called

Hong Kong is an example of which economy:

A glass ceiling is described as

One's own personal gain is called

Which type of merger involves businesses that make the same good or service?

Which is NOT a type of labor?

This economic system relies on habit, custom, or ritual...

A business that has locations in more than one country is called

When people conduct business without regard for government controls on price or quantity:

A steady rise in the stock market over a period of time is called

A way to attract customers through style, service, or location, but not a lower price is called

Justin is 12 years old and mows his neighbors lawn for $5/hour.  Is he part of the labor force?

Using a third party that has legal authority over labor negotiations is called

Taxes on gasoline, tobacco, and fireworks is an example of

Which is a disadvantage of a general partnership?

A set of government programs that help people in times of difficulty are called

Profits divided and paid to stockholders are called

Any factor that makes it difficult for a new firm to enter a market is called

What is a Right-To-Work law?

Which is an example of a price floor?

What's the advantage of a sole proprietorship?

Who owns a corporation?