Chapter 7-8
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| show | the amount of a good or service that consumers are able and willing to buy at various possible prices during a specified time period
🗑
|
||||
| supply | show 🗑
|
||||
| market | show 🗑
|
||||
| show | a transaction in which a buyer and a seller exercise their economic freedom by working out their own terms of exchange
🗑
|
||||
| law of demand | show 🗑
|
||||
| show | the amount of a good or service that a consumer is willing and able to purchase at a specific price
🗑
|
||||
| real income effect | show 🗑
|
||||
| show | economic rule stating that if two items satisfy the same need and the price of one rises, people will buy more of the other
🗑
|
||||
| utility | show 🗑
|
||||
| show | an additional amount of satisfaction
🗑
|
||||
| law of diminishing marginal utility | show 🗑
|
||||
| show | table showing quantities demanded at different possible prices
🗑
|
||||
| demand curve | show 🗑
|
||||
| elasticity | show 🗑
|
||||
| show | economic concept that deals with how much demand varies according to changes in price
🗑
|
||||
| elastic demand | show 🗑
|
||||
| show | situation in which a product’s price change has little impact on the quantity demanded by consumers
🗑
|
||||
| show | economic rule stating that price and quantity supplied move in the same direction
🗑
|
||||
| show | the amount of a good or service that a producer is willing and able to supply at a specific price
🗑
|
||||
| supply schedule | show 🗑
|
||||
| show | upward-sloping line that shows in graph form the quantities supplied at each possible price
🗑
|
||||
| technology | show 🗑
|
||||
| show | economic rule that says as more units of a factor of production are added to other factors of production, after some point total output continues to increase but at a diminishing rate
🗑
|
||||
| equilibrium price | show 🗑
|
||||
| show | situation in which the quantity demanded is greater than the quantity supplied at the current price
🗑
|
||||
| surplus | show 🗑
|
||||
| price ceiling | show 🗑
|
||||
| show | the distribution of goods and services based on something other than price
🗑
|
||||
| black market | show 🗑
|
||||
| price floor | show 🗑
|
||||
| entrepreneur | show 🗑
|
||||
| show | a beginning business enterprise
🗑
|
||||
| show | private- or government-funded agency that assists new businesses by providing advice or low-rent buildings and supplies
🗑
|
||||
| show | extra supply of the items used in a business, such as raw materials or goods for sale
🗑
|
||||
| receipts | show 🗑
|
||||
| sole proprietorship | show 🗑
|
||||
| proprietor | show 🗑
|
||||
| unlimited liability | show 🗑
|
||||
| show | all items to which a business or household holds legal claim
🗑
|
||||
| show | business that two or more individuals own and operate
🗑
|
||||
| show | special form of partnership in which one or more partners have limited liability but no voice in management
🗑
|
||||
| limited liability company | show 🗑
|
||||
| show | partnership set up for a specific purpose for a short period of time
🗑
|
||||
| corporation | show 🗑
|
||||
| show | share of ownership in a corporation that entitles the buyer to a certain part of the future profits and assets of the corporation
🗑
|
||||
| limited liability | show 🗑
|
||||
| articles of incorporation | show 🗑
|
||||
| corporate charter | show 🗑
|
||||
| show | shares of ownership in a corporation that give stockholders voting rights and a portion of future profits (after holders of preferred stock are paid)
🗑
|
||||
| show | portion of a corporation’s profits paid to its stockholders
🗑
|
||||
| show | shares of ownership in a corporation that give stockholders a portion of future profits (before any profits go to holders of common stock), but no voting rights
🗑
|
||||
| bylaws | show 🗑
|
||||
| franchise | show 🗑
|
||||
| show | federal government’s use of taxation
and spending policies to affect overall business activity
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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
Normal Size Small Size show me how
Created by:
perryherbst
Popular Economics sets