Marketing Essentials Ch 3 Political & Economic Analysis

Resource scarcity forces nations to make economic choices...

A time when the economy is flourishing, sometimes referred to as a period of prosperity.

Mr. Carter used to work where before teaching?

Measures wholesale price levels in the economy.

O'Hare International airport is in which city?

14% of Americans could not identify which country on a map?

Money to start and operate a business...

Governments raise interest rates during this time...

A tree growing in a forest is a factor of production called...

The term _____ refers to a period of renewed economic growth.

The output of goods and services produced by labor and property located within a country.

Germany is a socialist country, therefore, Germans pay less taxes than Americans?

As a factor of production, the term labor refers to both skilled and unskilled workers?

In a market economy, who decides how products are produced?

Which of the following is not a phase of the Business Cycle?

In economic terms _____ refers to people who work in the public and private sectors.

A period of economic slow-down that lasts for at least two quarters or six months.

What is the organized way a nation provides for the needs and wants of its people?

What day does Christmas fall on this year?

In a command economy, it is the consumers that decide what items will satisfy their wants/needs

In a command economy, who decides how products are produced?

Measurement of the amount of goods and services people have...

In a market economy, who decides whether a business will survive or fail?

In a traditional economy, who decides how products are produced?

The total dollar value of goods and services produced by a nation, including produced abroad.

The money a firm raises is considered which factor of production?

It's illegal in Georgia to do what with a fork?

Difference between wants and needs and available resources is called.

Which economy would best describe that  of the US?

A country's infrastructure includes...

In economic terms, land , labor, and capital refers to ...

The higher the ___________, the greater chances of an economic slowdown.

At what time this Sunday morning are you to turn your clock back one hour.

How long does it take for the Earth to spin once on its axis?

A period of prolonged recession.