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7 Cards in this Set
- Front
- Back
- 3rd side (hint)
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AN ENTERPRISE
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FANCY WORD FOR A BUSINESS OR A COMPANY OR A CORPORATION
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IN THE UNITED STATES, PRIVATE ENTERPRISES CREATE MOST OF THE JOBS THAT PEOPLE HAVE--LIKE THE THAI RESTAURANT!
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FREE ENTERPRISE
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BUSINESSES THAT ARE NOT CONTROLLED OR STARTED BY THE GOVERNMENT
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THE U.S. ECONOMIC SYSTEM IS BASED ON FREE ENTERPRISE.
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THE LAW OF DEMAND
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PEOPLE USUALLY BUY MORE OF A PRODUCT IF IT'S CHEAPER.
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THE LAW OF SUPPLY
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SELLERS WILL MAKE MORE OF A PRODUCT IF THEY CAN GET A HIGHER PRICE FOR IT.
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THE SUPPLY OF STRAWBERRIES IS HIGH IN JUNE, SO THE PRICE IS LOW. BUT IN DECEMBER THE SUPPLY IS LOW, SO THE $ IS HIGH
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DEMAND
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1. NOT BUSINESS: ACT ANGRY AND FORCEFUL SO YOU GET WHAT YOU WANT.
2. BUSINESS: HOW MUCH PEOPLE WANT A PRODUCT |
APPLE CAN CHARGE A LOT FOR THE I-PHONE BECAUSE THE DEMAND FOR IT IS VERY HIGH.
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SURPLUS
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WHEN YOU HAVE TOO MUCH OF SOMETHING
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I HAVE A SURPLUS OF PENNIES, NEWSPAPERS AND STUFF IN MY CAR.
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SHORTAGE OF
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NOT ENOUGH OF SOMETHING
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I HAVE A SHORTAGE OF MONEY, PENCILS AND CATA CARDS.
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