POB Economics 5.02 Vocab

POB Economics 5.02 Vocab

Assessment

Flashcard

Other

9th - 12th Grade

Hard

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22 questions

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1.

FLASHCARD QUESTION

Front

Possibility of loss or gain in business.

Back

Business risk

2.

FLASHCARD QUESTION

Front

Economic system where production and distribution are government-owned.

Back

Command economic system

3.

FLASHCARD QUESTION

Front

A command economic system where the government controls the economy and prohibits private ownership.

Back

Communism

4.

FLASHCARD QUESTION

Front

Rivalry among businesses for customer dollars

Back

Competition

5.

FLASHCARD QUESTION

Front

Money a business pays for products or raw materials it sells.

Back

Cost of goods

6.

FLASHCARD QUESTION

Front

Rivalry among businesses offering similar goods/services.

Back

Direct competition

7.

FLASHCARD QUESTION

Front

Risks from changes in business conditions.

Back

Economic risks

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