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Study
Economic Processes
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Provide an example of a specialized business
Answers will vary - Ritas, McDonald's, Philly Pretzel,etc.
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Struggle among producers for consumers' business
competition
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Name an example of a nonprofit institution
Answers will vary
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ways to persuade consumers to buy a good
advertising
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level of industry that provides services or distributes goods
tertiary industry
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institution that is business-like but does NOT make a profit
nonprofit organization
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most common item used to pay for a good or service
money
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Name a competitor of Weis grocery
Walmart ,Giant, Redners, Wegmans,etc.
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Place - virtual or actual - where producers and consumers exchange goods and services
market
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trading is also called...
barter(ing)
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Level of industry for phrases "SELL IT, DISTRIBUTE IT or SERVICE IT"
tertiary
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Name an example of US currency
Answers will vary
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Level of industry for phrase "MAKE IT"
secondary
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A business that concentrates on making just a few products
specialization
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money earned by selling goods or services
profit
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Increase in prices over a period of time
inflation
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Lack of jobs due to lack of demand for goods and services
unemployment
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declilne in economic growth for 6 or more months
recession
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Level of industry for phrase "RESEARCH, DESIGN, or INVENT IT"
quaternary
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Paper bills and metal coins are ...
currency
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Revenue minus expenses equals?
profit
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level of industry with focus on information and research
quaternary
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Name a way a business may advertise
Answers will vary
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level of industry that uses resources to make products
secondary
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Level of industry that collects resources from earth or nature
primary industry
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Level of industry for phrase "TAKE IT"
primary
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