Businesses. Economic Flow, Financial Institutions, Global Economy, Technology
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| Which type of business has only one owner who earns all the profits but, with unlimited liability takes all the risks? | Proprietorship
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| Which type of business has two or more owners who share the profits but, with unlimited liability takes all the risks as well? | Partnership
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| What type of liability means that if the business fails the owners can lose all of their property to pay the debts? | Unlimited
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| Which type of business is authorized by law to act as a legal entity regardless of the number of owners who share the profits and have liability that is limited to their investment? | Corporation
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| How do people become owners in a corporation? | Buy Stock
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| What do we call the business owner who takes a risk to earn profits and can start any of the three types of businesses? | Entrepreneur
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| Individual and business saving and investment provides __ ___ that can be borrowed for noisiness expansion and increased consumption. | Financial Capital
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| Individuals/households give what two things to businesses? | Resources
Money
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| Individuals/households get what three things from businesses? | Work
Money
Products
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| What do businesses use their profits for? | Buy more resources
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| What do individuals and businesses give to the government? | Taxes
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| What does the government give to individuals and businesses? | Public Goods and Services
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| Private financial institutions act as intermediaries between? | Savers and Borrowers
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| What are the three types of private financial institutions? | Banks
Savings and Loans
Credit Unions
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| Private financial institutions receive ___ and make ___. | Deposits
Loans
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| Private financial institutions encourage saving and investing by ___ ___ on deposits. | Paying Interest
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| Worldwide markets in which the buying and selling of goods and services by all nations takes place is - | Global Economy
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| States and nations trade to obtain goods and services they cannot ___ or produce ___ themselves. | Produce
Efficiently
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| States and nations trade to buy goods and services at a lower ___ or a lower ___ cost. | Cost
Opportunity
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| States and nations trade to sell goods and services to - | Other countries
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| States and nations trade to create - | Jobs
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| Virginia and the United States ___ in the production of certain goods and services because it promotes ___ and ___. | Specialize
Efficiency
Growth
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| Innovations in technology contribute to the ___ ___ of information, capital, goods, and services. | Global Flow
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| The use of technology lowers the cost of ___. | Productions
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| The technological innovation that has had a huge impact on the global economy is - | Internet
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