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Final Jeopardy
Business Types
Demand
Even More
Demand
Odds & Ends
Terms
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Can sell stock to
raise money.
What is a
corporation?
The easiest type of
business to start?
What is a sole
proprietorship?
When the owner of
the business can lose
all personal
possessions if the
business fails.
What is unlimited
liability?
What type of stock
represents the basic
ownership in the
corporation & they
have voting rights.
What is common
stock?
Celebrity businesses
such as the Viper
Room and Dolce are
examples of this.
What are limited
partnerships?
The direction of the
slope of a demand
curve.
What is
downward?
People demand less
at a higher price and
more at a lower
price is known as?
What is the Law of
Demand?
When the price of a
product changes it
causes?
What is a change
in the
QUANTITY
demanded?
If people desire more of
a product at every
price, the curve will
shift to the?
What is the right?
If the price of jelly
increases which
direction will the
demand curve for
peanut butter shift?
What is to the left?
Shampoo and
conditioner
are examples
of this .
What are
complements?
As income goes up what
happens to demand?
What is
increases or
goes up?
Items that are
needed have
this type of
elasticity.
What is
inelastic
demand?
Items with lots of
substitutes and that do
not take a large portion
of income have this
elasticity?
What is elastic
demand?
If the price of coca-cola
increases, this will cause
the demand curve to
shift in which direction?
What is to the
right?
The father of
capitalism.
Who is Adam
Smith?
In this economic
type all decisions
are made by the
government.
What is command
economy?
McDonalds is
found world wide
and is considered
to be a.
What is
multinational?
Companies do
this to lose a
bad
reputation.
What is
merge?
A business that has 4
different operations
none of which accounts
for more then 50% of
sales.
What is a
conglomerate
?
This is set-up like a
business but the
goal is NOT to
make a profit.
What is a nonprofit?
This is considered
to be the basic
problem economics
tries to solve.
What is scarcity?
Decreasing
usefulness of
additional units of
a product.
What is
diminishing
marginal utility?
A graph that
illustrates all
possible outputs of
2 goods or services.
What is a
production
possibilities
frontier (PPF)?
Examples of this
cooperative are
Sam’s Club or
Costco.
What are
consumer
cooperatives?
Make your wager
What made up product is used
by economists on sample
demand and supply curves?
What are
widgets?