Unit 3 Business Management

Under which political-economic system can nearly any individual start a business?

Fundamentals of Capitalism include all except:

Prices dropping and graduates finding it harder to find jobs falls under which economic system?

A period when unemployment is at its worst falls under which economic situation?

What % of total receipts is the average net profit of all business firms?

Increasing government spending for transportation does what to Economic growth?

A decline in the GDP that lasts for 6 months or less is

What type of economy is China attempting to move toward?

Which country best satisfies the definition of a mixed economy?

Do consumers help decide what will be produced as well as how much will be produced?

A period before unemployment rates start to climb falls under which economic system?

Can a country produce as many capital goods as it wishes to produce at any one time?

True or False: A school cafeteria does not provide for an economic want

Which of these is not a consumer good?

Which is a way economic growth can be measured?

CPI is

When demand increases, profit does what?

Can economic-political systems be separated?

Consumer goods _____

Raising federal income taxes does what to economic growth?

The incentive of privatization is:

True or false: under communism, an individual cannot completely own their property

Which of these is not a capital good?

During inflation, does the dollar buy more than it did before inflation?

Supply is

The free enterprise system in the U.S is an example of:

Unemployment occurs during

On average, how long do the 4 business cycles (expansion, peak, contraction, trough) last?

Going to a bookstore for this weeks best selling novel which is in stock, is an example of:

which of the following is not a way to increase economic growth?

Under socialism, which is not true?

A period of high employment and rising wages and prices falls under which economic situation?

Economic wants can be best described as

A shoe manufacturer creates

True or False: Command economies exist under dictatorships.

Renting/borrowing is an example of

The basic factors of production are:

5% of a businesses average profits represent

which of these is a phase of a 5 year business cycle

Going to a store to buy a canvas walking shoe when the store only has leather is an example of