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Unit 8 economic Review Flashcards | StudBud

Explore/Unit 8 economic Review

Unit 8 economic Review

10 terms·StudBud Administration·1 play

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Questions 10

Answers

1
What is Considered a Product?
Starbucks Coffee's Hot Coffee
Wood
bean
Green
2
What is Considered an traditional economy?
A guy quitting his job and giving some random guy his job
A dad passing away and passing his business to his son
My Mom
3
What is the definition of proprietorship?
Hakuna Matata
Lemonade stands
Hallelujah
Ownership of a business
4
What is considered a competition?
Bobs burgers went out of business so, he retired
John dropped his prices to 20% cause his friend did 10%.
5
What is considered a resource?
Brick
Wood
A man sitting on a bench
metal
6
Which one is the Definition of a mixed economy?
Makes decisions on own and private ownership of business
Combines free market and command economy.
7
Which is the definition of profit?
Earnings after all expenses have been paid.
Things that change economic behavior and choices.
8
What is the definition of a partnership?
Own a Business all by yourself and dont share it with anyone
Form of a business with two or more owners
9
What would be considered an entrepreneurship business
A guy going door to door to sell chocolate
A guy working at the krusty krab
10
what is considered labor/Human resource?
A guy raking and cleaning gutters at the park
A guy eating peanut butter
a using rocks to rock skip