Civics Unit 7 Review

Peanut butter and jelly are examples of _____________. 

Which best describes a demand curve? 

Which best describes a demand curve? 

__________ is a measure of how much something can make in a set amount of time.

The largest type of business.

A ___________ sets a limit on how low price can go. 

Not having enough supply is also known as a ____________.  

Which of these is an example of an inferior good? 

Which of these describes the driving force behind opening a business?

This type of business has unlimited liability.

____________ is probably not as well-protected from fraud.

When a third party makes the decision for both parties, it is called ____________.

____________ sends you a bill to be paid back.

A ___________ is the government paying someone to do something.

________ is how much someone will buy a higher priced good with a comparable substitute.

If demand is very inelastic, it will do what when price changes? 

This type of business has limited liability.

__________ shows how much a change in price will affect supply or demand. 

When union leaders and managers meet, it is known as _____________.

Trying to be able to produce more of a good is called ____________. 

When union leaders and managers meet with a third party, it is called ___________.

Which best describes a supply curve? 

A ___________ sets a limit on how high price can go. 

Which best describes a supply curve? 

Which of these is an example of a way to improve productivity?

The smallest type of business.

____________ represents how much something is wanted by consumers.  

Butter and popcorn are examples of _____________. 

Having too much supply is also known as a ____________.  

____________ represents how much something is produced by producers.

If demand is very elastic, it will do what when price changes? 

When there s the same amount of supply as demand, the market is considered to be at _________. 

A ________ is an example of the government giving money to a person for some action.

Very similar to a sole proprietorship, but has multiple owners.

________ shows a change in usefulness over time.  

Fruit loops and Fruity-Os are examples of _____________. 

Which of these is an example of a normal good? 

____________ has the potential to charge you interest.

____________ pulls straight from your bank account.