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87 Cards in this Set
- Front
- Back
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useful tangaible item
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good
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work performed for someone else
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services
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where we work and sell our labor
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factor markets
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when we buy goods and services
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product markets
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useful tangaible item
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good
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buy resources,create and sell goods
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buisness
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work performed for someone else
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services
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where we work and sell our labor
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factor markets
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when we buy goods and services
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product markets
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buy resources,create and sell goods
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buisness
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useful tangaible item
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good
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work performed for someone else
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services
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where we work and sell our labor
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factor markets
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when we buy goods and services
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product markets
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buy resources,create and sell goods
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buisness
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get income from working spend
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individuals
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the cost of the next best alternative
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oppurtunity costs
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the max number of goods and services a economy can produce
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the producation frontier
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comparing cost of an action to the benfit revieved
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cost-benefit analysis
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consumers and privatley owned buisnesses make the capacity of the econmic decision
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free enterprise exonomy
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2 companies same type of product
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horizontal company
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2 companies,different stages of manufactoring
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vertical company
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income statments,net income,depreation,cash flow,merging,
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How companies grow
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at leaast 4 compamies, unrelated prodcts
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conglomerate
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accorporation that operates in mmulitple countires
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multinationals
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non iin buinsness to make money
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non profit organization
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goal is promoting interest
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non profit organization
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relies often on volunteers
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non profit org.
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this type of non profit org. is mainly involved with schools,chiurches,and hospitals,
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communitry organixations
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this type of non profit. org is voolunatry assocarion that buys in bulk;memberes either pay a fee or voluntary market
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consumer co-ops
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this type of cooperate provides a service like banking or insurance
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service co-ops
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this type of cooperateive helps members sell their products farming
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producer co-ops
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this type of non profit is when workers organized together for collective barganing purposes
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labor unions
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this type of non profit speciallizes workers like the american bar assocation
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professional associations
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this type of non-profit is involved with chambers of commerce and the federal gov't act in some ways like a s non-profit
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buisness assocation
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owned operated by a singler person
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sole proprietorship
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most common form in the united states
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sole propietor shup
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this type of cooperate provides a service like banking or insurance
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service co-ops
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smallest total sales in the us
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sole propietorship
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this type of cooperateive helps members sell their products farming
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producer co-ops
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owned by two or more people
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partnership
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this type of non profit is when workers organized together for collective barganing purposes
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labor unions
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all partners are responsible
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general
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this type of non profit speciallizes workers like the american bar assocation
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professional associations
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this type of non-profit is involved with chambers of commerce and the federal gov't act in some ways like a s non-profit
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buisness assocation
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owned operated by a singler person
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sole proprietorship
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most common form in the united states
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sole propietor shup
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smallest total sales in the us
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sole propietorship
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owned by two or more people
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partnership
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all partners are responsible
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general
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this type of cooperate provides a service like banking or insurance
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service co-ops
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this type of cooperateive helps members sell their products farming
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producer co-ops
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this type of non profit is when workers organized together for collective barganing purposes
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labor unions
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this type of non profit speciallizes workers like the american bar assocation
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professional associations
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this type of non-profit is involved with chambers of commerce and the federal gov't act in some ways like a s non-profit
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buisness assocation
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owned operated by a singler person
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sole proprietorship
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most common form in the united states
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sole propietor shup
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smallest total sales in the us
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sole propietorship
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owned by two or more people
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partnership
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all partners are responsible
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general
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one or more partners are not involed
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limited partnershop
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a seperate legal enity with rights
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corporations
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can buy and sell property,legal contracts,
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corporations
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responsible for a/b 80% of sales
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corporations
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owners personall own and full responsible for all losses and debts
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unlimited liabity
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stock of finished goods and parts in reserve
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inventory
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a gov't document that gives permisiion to create a corporation
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charter
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ownership certifices in the firm
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stock
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shares are sold to investors
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stock holders
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a check that transfers a portion of the coporate earnings
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dividend
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one or more partners are not involed
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limited partnershop
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a seperate legal enity with rights
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corporations
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can buy and sell property,legal contracts,
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corporations
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responsible for a/b 80% of sales
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corporations
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owners personall own and full responsible for all losses and debts
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unlimited liabity
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stock of finished goods and parts in reserve
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inventory
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a gov't document that gives permisiion to create a corporation
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charter
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ownership certifices in the firm
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stock
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shares are sold to investors
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stock holders
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a check that transfers a portion of the coporate earnings
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dividend
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represnts basic ownership of a coprpoation
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common stock
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amount borrowed
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prinicipal
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price paid for the use of anothers money
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interest
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combination fo two or more buisness to form a single form
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merger
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funds left over after all of the firms expenses
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net income
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noncash charge the firm takes the gerneral wears and tear on its capital goods
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depreciation
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som of the net icome and non cash charges
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cash flow
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