Business Foundations: Economics & Business (ch 1-3)

If a business sets prices above the equilibrium, they may have a _______.

What can follow a recession?

The United States is an example of a:

Which type of economy are decisions made in the marketplace based on supply and demand?

What happens when prices are lowered and production is cut because supply > demand?

Which unemployment rate is the best?

For most, the safest time to open a business is during:

The fryer at Wendy's is an example of:

What is a decrease in business activity after prosperity?

These are wants shared by many people and satisfied by governments

What does the nation have when it spends more than its income?

An increasing GDP per capita means:

When a company downsizes, it leads to increased: