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EOPA DMontford2

Entrepreneurship Pathway

What are the disadvantages of entrepreneurship? Risk time and money to start and manage a business, they lose benefits as to working for another company or person
What are the 2 branches of economics? Macroeconomics and micro ecnonomics
What does Macroeconomics mean? Study the operation of a nation's economy as a whole
What does Microeconomics mean? Study the behavior of people and organizations in a particular market
What are the technological benefit workers, business, and consumer? Workers to be more effective efficient and productive
What does Economics mean? the study of how society chooses to employ resources, and distribute them for consumption among competing groups and individuals
What does socialism mean? An economic system base on the premise that some business should be owned by the government.
How does socialism differ from communism? Communism- the government owns almost all major production facilities and dictates what gets produced and by who.
Define Consumer Price Index. Measures changes in the prices of about 400 goods and services that consumers buy
What are the 4 phases of business cycles? Economic boom, recession, depression and recovery
Created by: DestinyMontford
Popular Management sets




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