This is an economic system in which the government minimizes its interference with the economy.
LASSAIZ-FAIRE
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15
This is a social science that focuses on how people and societies make choices.
ECONOMICS
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heart
Other team wins 25 points!
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rocket
Go to first place!
Okay!
gift
Win 25 points!
Okay!
banana
Go to last place!
Oops!
15
This is a type of business organization of a special form of partnership wherein the partners aren't equal: one is a general & the other is a limited partner.
LIMITED PARTNERSHIP
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15
What is another name for Market Economy?
CAPITALISM
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seesaw
Swap points!
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fairy
Take points!
5
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20
25
shark
Other team loses 25 points!
Okay!
banana
Go to last place!
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20
What are the 4 Factors of Production?
CAPITAL, ENTREPRENEURSHIP, LAND, LABOR
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15
This is a type of business organization focusing on doing a special project together, and not want to continue this partnership beyond that project.
JOINT VENTURE
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baam
Lose 20 points!
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fairy
Take points!
5
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15
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25
rocket
Go to first place!
Okay!
baam
Lose 15 points!
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15
An unemployed factory worker is an example of which Factor of Production?
LABOR
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15
This is the rivalry among producers and sellers of similar goods & services to win more business
COMPETITION
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15
This is the money left after ALL costs of production - wages, rents, interests, and taxes - have been paid
PROFIT
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25
My best friend and I have been helping people unable to get out of their homes by doing grocery shopping and running other errands. We have decided to turn this into a formal business. What type of biz organization should we choose?
PARTNERSHIP
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20
___ means that people do not have and cannot have enough income, time and other resources to satisfy their every want.
SCARCITY
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15
TRUE or FALSE: In a Mixed Economy there is no one can have private ownership of property.
FALSE
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25
Government just gave subsidies to Farmers for the production of poultry products. What will happen to the supply of poultry products - SHIFT TO THE LEFT or SHIFT TO THE RIGHT?