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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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