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16 Cards in this Set
- Front
- Back
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Name four places where a person could save their money. |
Banks, securities brokers, credit unions, savings and loans |
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Define what an entrepreneur is. |
A person who takes a risk to produce goods and services in search of profit. |
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What do individuals sell to producers. |
Resources |
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Private financial institutions __________deposits and_________loans. |
Receive, make |
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Of the three types of business ownership types which is liability limited to investment? |
Corporation |
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What incentive do private financial institutions give to encourage saving and investing? |
Interest |
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Efficiency and growth is associated with specialization in the production of what? |
Goods and services. |
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What type of business ownership offers the greatest percentage of profit? |
Sole proprietorship |
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Private financial institutions act as intermediares between what two groups? |
Savers and borrowers |
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What type of business ownership has two or more owners who share in risks and profits? |
Partnership |
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The buying and selling of goods and services by all nations refers to what type of economy? |
Global economy |
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Buying more resources is a way that businesses use what? |
Profit |
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What do governments use tax revenues for? |
To provide public goods and services. |
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Why do states and nations trade? |
Provide goods and services we don't make and create jobs |
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Financial capital is necessary if businesses want to_________? |
Expand |
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The global flow of goods and services is directly related to innovations in what? |
Technology |
