Economic Review

When the government answers the three economic questions, it is a ______ Economy

The primary business sector produces or extracts raw material from the land or ____.

What is regarded as morally right or wrong for a business to do is defined as

Entrepreneurship, or ___ ___ is often referred to as the fourth factor of production

This is the lowest point of a business cycle

Deflation is a fall in the general_____

Among many things, operating expenses include cost of goods sold, insurance, fixtures, licenses

A rise in the general prices of goods and services in an economy over a period of time

The economists, the three main factors of production are:

A tax the tax payer pays directly to the government (such as income, corporate, & excise taxes)

Which sector involves manufactures processes or contracts goods

When the people answer the three economic question, the system is called a ____ Economy

Clothing alterations are _____.

What's produced, how it's produced, & who will receive what is produced, are know as the three

The two major areas of economics are microeconomics and _____.

Supplying goods and services and creating jobs are benefits from what?

Goods are ______.

The market value of all goods & services produced in a country's boarder during a time period

When a company does business in a foreign country it has to abide by

Natural disasters are a business risk; which of the following is considered a natural risk?