stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Amber Soliz: Ch. 17 Flashcards | StudBud
Explore
/
Amber Soliz: Ch. 17
Amber Soliz: Ch. 17
25 terms
·
StudBud Administration
·
101 plays
Imported from external platform
Flashcards
25 cards
F
Practice quiz
P
Host live
L
Questions
25
Answers
1
define profit
amount above the cost of goods
money a business makes after accounting for all the expenses
money
2
what is money needed to buy the tools and equipment for a business
natural resources
profit
investment
financial capital
3
what are the 4 factors of production
Natural Resources,Capital, Labor, Entrepreneurship
Entrepreneurship, Capital, Monopoly
Partnership, Labor, Natural Resources, Capitalism
Capitalism, Partnership, Profit, Scarcity
4
the right to sell and buy goods at prices of their own choice
free market
capitalism
stockholder
market economy
5
economic system based on private ownership of the means of production
capitalism
capital
profit
sole proprietorship
6
business organizations where two or more persons share responsibilities,costs,profits & losses
sole proprietorship
corporation
partnership
free enterprise
7
what is sole proprietorship
a small business owned by only one person
multiple people own the business
8
an entrepreneur is ..
Oprah Winfrey
A person who manages their own business and takes risks
Walt Disney
People take a chance and start their own business
9
whats an economic systems
command
All of the above
traditional
market
10
a share or ownership or part of a corporation
profit
stock
stockholder
11
what is labor
human effort to produce goods and services
supervising people do work
sleeping
12
what is a corporation
a bunch of business put together
the boss of a business
is an independent legal entity owned by shareholders
a business
13
materials needed to manufacture products.
profit
capital
stock
natural resources
14
true/false capitalism is a system in which the productive resources owned by private citizens
false
true
15
people who own corporate stock
rich people
stockholder
entrepreneur
16
what is a type of business organization?
Corporations
All of the above
Sole Proprietorships
Partnership
17
how can the U.S. economic system be labeled
command economy
all of the above
traditional economy
market economy
18
true/false nonprofit organizations gain money from the events they do
false
true
19
individuals are free to compete to earn a living/profit & to own property
traditional economy
command economy
market economy
20
when demand excedes economic resorces
stock
capital
scarcity
labor
21
define law of supply
price of good rises, suppliers increase the supply of good
The price of a product rises,the demand for the same product
22
profits paid to corporate stock
monopoly
capital
dividends
23
problem of limited resources
scarcity
no more natural resources
24
true/false capital is the manufactured goods used to make other goods and services
false
true
25
company that controls all production of a good/service
monopoly
free enterprise
dividends
scarcity
