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economics management

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
show Natural resources or gifts of nature that are used to produce goods and services.  
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Labor   show
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show The health, strength, education, training, and skills which people bring to their jobs.  
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Physical Capital   show
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show It is something that is desired but not needed.  
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Trade-Off   show
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Capital   show
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Oppurtunity Cost   show
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Scarcity   show
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show The dominant form of economic organization in noncommunist countries. Mixed economies rely primarily on the price system for their economic organization but use a variety of government interventions (such as taxes, spending, and regulation).  
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show A commodity whose benefits are indivisibly spread among the entire community, whether or not particular individuals desire to consume the public good.  
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Competition   show
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Complement   show
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Total Revenue   show
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Demand   show
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Supply   show
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show The market clearing price at which the quantity demanded by buyers equals the quantity supplied by sellers.  
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show the market condition that exists when there are few sellers, as a result of which they can greatly influence price and other market factors.  
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Monopoly   show
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show An association of two or more persons who jointly own a for-profit business.  
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show legal entity owned by stockholders whose liability is limited to the value of their stock.  
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Assets   show
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Sole proprietorshiip   show
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Need   show
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show The ratio of output (goods and services) produced per unit of input (productive resources) over some period of time.  
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Created by: kubiakb
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