Chapter 14

What set the stage for the modern labor movement?

According to the law of supply, as prices go up

Which was the primary cause of the rise of labor unions?

Someone who has a new idea and raises money to start a business is called a(n)

Entrepreneurs are motivated to start businesses in order to

An advantage of a sole proprietorship is that the owner

What caused workers to form labor unions?

Which is not an example of a service-oriented business?

Which type of business has the most risk for its owner?

Which is not an example of how businesses are owned in our economy?

According to the law of demand, as prices go up

Our free market economy depends on a circular flow of

Which of the following, along with price, affects the demand for products?

What payment do producers exchange for the use of labor?

Corporations sell stock in order to

A corporation can have debts, hire workers, and make profits because

The market price is determined by the

In circular flow of economic activity, producers need the following resources to create goods:

Which type of business can produce goods and services most efficiently?

An agreement about wages and working conditions is part of a process called

Which payment do businesses exchange for factors of production?

The American economy is based on a circular flow of

Which was not a weapon used by unions or employers in the early days?

Why is labor different from other factors of production?

In circular flow of economic activity, producers need the following resources to create goods:

Which is not something that labor unions are concerned about improving?

Buying more of a product because the price is low demonstrates

Producers made more shirts to sell at $60 than they did at $40. This demonstrates