CHapter 1 Business

0.0(0)
Studied by 0 people
call kaiCall Kai
Locked
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
GameKnowt Play
Card Sorting

1/19

encourage image

There's no tags or description

Looks like no tags are added yet.

Last updated 2:46 PM on 9/15/26
Name
Mastery
Learn
Test
Matching
Spaced
Call with Kai
Chat

No analytics yet

Send a link to your students to track their progress

20 Terms

1
New cards

5 Factors of productions

Labor,Capital ,enetuarship Natural Resources and Knowledge

2
New cards

Capitalism:

Private ownership; free market sets prices.

3
New cards

Socialism

Public ownership of key industries for equality.

4
New cards

Communism:

State ownership; no private property.

5
New cards

Mixed Economy:

Blends private business with government regulation.

6
New cards

4 Market Structures

Perfect competition Monopolistic Oligopoly Monopoly (most to least competitive)

7
New cards

Perfect Competition:

Many sellers, identical products.

8
New cards

Monopolistic Competition

Many sellers, similar products.

9
New cards

Oligopoly:

Few large companies dominate.

10
New cards

Monopoly:

One seller controls the entire market.

11
New cards

94% -96%

=Full employment.Not 100%.

12
New cards

Monetary

Fed controls interest rates.

13
New cards

Fiscal Policy

Government controls taxes and spending.

14
New cards

Bussiness

Organization seeking profit by meeting customer needs.

15
New cards

Profit

Reward for business risk.

16
New cards

GDP

Total value of goods/services produced in a country.

17
New cards

Consumer Price Index

Measures inflation and price stability.

18
New cards

Demand

  • Price goes up Demand goes down.


19
New cards

Supply

Price goes up Supply goes up.

20
New cards

Business cycle

The recurring pattern of prosperity ,recession,depression,and recovery.