Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
Know
remaining cards
Save
0:01
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards
share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Ch 1: Business

Exploring the World of Business

QuestionAnswer
free enterprise individuals have freedom in choosing means of production and how to sell their product
To succeed in business, you must have a.. dream
Adapting to __________ in the environment will help you succeed in business. changes
What is business? organized effort of individuals to produce and sell goods and services to people for a profit
The four key resources to a successful business include... Human, informational, financial, and material
rational self interest making decisions that leave someone better off
Factors of production land, labor, capital, entrepreneurship
Capitalism individuals own and operate majority of businesses that provide goods and services, for the gov't has limited control
command economy government decides what, where, how and who gets the products
gross domestic product (GDP) measures economic success and how much a country produces in a year
inflation general rise in level of prices
deflation general decrease in level of prices
unemployment rate percentage of nation's labor force unemployment rate
consumer price index measures level of price changes in goods/services per year
balance of trade Exports - imports
prime interest rate lowest interest rate that banks charge most credit worthy customers
standard of living subjective measure of how well a society is progressing by its use of goods and services
barter trading one good/services for another good/service
specialization of labor distinct tasks and assignments divided to certain individuals
Created by: nnaseem98