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Economics Test Review 1-3 (and Holiday colors)

Human effort/a factor of production
Market structure in which a few sellers dominate the market
Agreement, usually illegal, among producers to fix prices, limit output or divide markets
Limited life is a disadvantage of ____ proprietorship
study of efforts to satisfy seemingly unlimited wants with scares resources
group of people ultimately determines the products that a free enterprise economy produce
Tools/a factor of production
4th of July...White, Red and
Philosophy that government should not interfere with business activities
Real or imagined differences between two products
Black, Red and Green
Market structure in which a single seller dominates the market
Purple, Green and Gold are the colors of this Tuesday holiday
Chinese New Years
A voluntary association that buys bulk amounts of goods on behalf of its members is a consumer ____
Natural resources/a factor of production
Red and Green
Red, white and blue are worn when celebrating Bastille Day in this nation
important characteristic of a free enterprise economy
Assigning tasks to those who can do them most efficiently
sole proprietorship is the ____ common type of business arrangement in the United States
A risk taker in search of profits
A form of business organization recognized by law as a separate legal entity having all the rights of an individual
Red is oft used for this February Holiday
A key part of a traditional economy
St. Patrick's Day