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EOPA DMontford2
Entrepreneurship Pathway
| Question | Answer |
|---|---|
| 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
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