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