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$100 $200 $300 $400 $100 $200 $300 $400 $100 $200 $300 $400 $100 $200 $300 $400 $100 $200 $300 $400 $500 $500 $500 $500 $500 MACROECONOMICS DEMAND SUPPLY BUSINESS ORGANIZATIONS VOCABULARY MACROECONOMICS DEMAND SUPPLY ORGANIZATIONS $100 $200 $300 $400 $100 $200 $300 $400 $100 $200 $300 $400 $100 $200 $300 $400 $ BUSINESS VOCABULARY $100 $200 $300 $400 $500 $500 $500 $500 $500 C 1 - $100 Entrepreneurs are considered the driving force in our economy because they…. C 1 - $200 Which group of people immediately determines what our economy produces? C 1 - $300 What is the best way to describe the U.S. economic system? C 1 - $400 In a market economy a high price is a signal for … C 1 - $500 Business receipts (revenue) - (Minus) Business expenses (costs) =? C 2 - $100 The demand curve shifting to the left represents this? C 2 - $200 Movement along the demand curve represents this C 2 - $300 When the demand curve shifts to the right it represents this C 2 - $400 An increase in consumer’s income will cause the demand curve to do this C 2 - $500 Customers’ willingness to replace a costly item with a less costly item is an example of this C 3 - $100 Movement along the supply curve represents this C 3 - $200 The supply curve shifting to the right represents this? C 3 - $300 How would a change in price be shown on the supply curve? C 3 - $400 New technology that increases production will cause the supply curve to do this C 3 - $500 This occurs when the quantity supplied is greater than the quantity demanded C 4 - $100 When a major car company lowers its prices other car companies will do what? C 4 - $200 Many businesses are engaging in e-commerce because …… C 4 - $300 In which type of business org. do the owners earn dividends? C 4 - $400 A large number of buyers and sellers is a characteristic of this type of competition C 4 - $500 An inactive partner in a limited partnership has this type of liability C 5 - $100 We become better decision makers by studying this C 5 - $200 The diamonds and water paradox is also called this C 5 - $300 Manufactured goods needed to produce other goods are called this Profit-maximizing level of output is reached when marginal cost equals? C 5 - $400 C 5 - $500 The federal minimum wage is an example of which social and economic goal? C 1 A - $100 Start new businesses $ C 1 A - $200 consumers $ C 1 A - $300 Modified Free Enterprise System $ C 1 A - $400 Producers to supply more And Consumers to buy less $ C 1 A - $500 Profit $ C 2 A - $100 A decrease In demand $ C 2 A - $200 A change in quantity demanded $ C 2 A - $300 An increase in demand $ C 2 A - $400 Shift to the right $ C 2 A - $500 The substitution effect $ C 3 A - $100 A change in quantity supplied $ C 3 A - $200 An increase in supply $ C 3 A - $300 Movement along the supply curve $ C 3 A - $400 Shift to the right $ C 3 A - $500 A surplus $ C 4 A - $100 Lower their prices $ C 4 A - $200 Lower fixed costs or lower overhead $ C 4 A - $300 corporations $ C 4 A - $400 Perfect competition $ C 4 A - $500 Limited liability $ C 5 A - $100 economics $ C 5 A - $200 Paradox of value $ C 5 A - $300 Capital goods $ C 5 A - $400 Marginal revenue $ C 5 A - $500 Economic equity $ FJ Topic Market structures $ FJ Question Type of monopoly based on control of a manufacturing process or scientific advance $ FJ Ans Technological monopoly $ END OF GAME