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200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 Your Mom Its Almost Over Buh Bye Peace Out Home Skillet
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Automobiles and car insurance are examples of these types good and services
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Complimentary goods and services
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Capital, human, and natural are these types of resources
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Productive Resources
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Reason why becoming an entrepreneur is so risky
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More than half of all businesses fail within the first 4 years
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The medicare program taking funding away from other beneficial government programs is an example of this
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Opportunity Cost
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If a company considers changing their production, looking at the production possibility curve of a decision would show them this
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The opportunity cost
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If an entrepreneur closes a business in order to attend an event, this would be their opportunity cost
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Lost income
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When comparison shopping, you are actually looking at this aspect of the purchase
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Opportunity Cost
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In a manufacturing business, this would be considered the capital
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Machines used to make the goods
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Marxism is about this types of economic system
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Command Economy
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Inherited resource ownership and large numbers of workers engaging in subsistence farming characterize this type of economy
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Traditional Economy
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Businesses and consumers driving the economy describes this type of economy
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Market Economy
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Choosing a CD instead of a savings account has a higher this because it is invested for a longer period of time
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Opportunity Cost
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A decrease in demand greater than a decrease in supply will result in this
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Lower Equilibrium Price
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If consumers are willing to pay a higher price for something then the demand for that product is considered this
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Price inelastic
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When demand of a product is less than the quantity supplied, this is the result
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Surplus
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The Securities and Exchange Commission regulates this
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Purchase and sales of stocks
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Reason why patents are a barrier to the market
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They prevent competition from making similar products
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The reason for the government doing this would be to ensure that all workers receive a living wage
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Raising minimum wage
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A downturn in GDP for 2 or more consecutive quarters
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Recession
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An increase in labor productivity will result in this
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An increase in aggregate supply
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The government would increase spending during this
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Recession
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The federal government having to declare that the dollar is legal tender, proves US money is this
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Fiat Money
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Too much money chasing too few goods
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Inflation
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This government program started during the NEW DEAL was to safeguard the savings of people if banks failed
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FDIC
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Putting coins in a jar is an example of money’s this
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Store of Value
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