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final

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Term
Definition
Entrepreneur   show
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Scarcity   show
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Utility   show
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show USA, supply and demand determines production  
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show communism, government determines production  
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show lack of industry, slow to accept change  
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Inflation   show
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show one owner, do not have to share profits  
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show least common, must fill out an agreement over how to split the profits  
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show Many owners/stockholders, best growth potential  
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Law of Demand   show
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show amount producers offer for sale varies directly with the price  
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show wants, small price change produces a large change in supply and demand  
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Inelastic   show
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show overhead, cost that remains the same each month like rent  
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Variable Cost   show
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Total Revenue   show
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show a system of allocating resources without using prices  
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Price Floor   show
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Price Ceiling   show
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Surplus   show
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Shortage   show
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Pure Competition   show
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show firms use advertising to achieve product differentiation (walmart vs. target)  
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Monopoly   show
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show refusal to buy products from targeted companies  
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show refusal to work until demands are met  
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Income Tax   show
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show largest tax revenue for the state governments  
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show federal, state, and local governments  
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Private Sector   show
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Fiat Money   show
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show money that has an alternative use like corn or tobacco for money  
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show nickname given to US currency that began during the US Civil War  
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Federal Reserve   show
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FDIC   show
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show represents shares of ownership in companies  
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Dow Jones Industrial Average   show
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Created by: schmisam000
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