Economics Quiz 3 Review

A business environment where there are many producers, not just one or two​

• Competition
• Business
• Monopoly

Organize these options into the right categories

Groups:

(a) Types of Businesses

,

(b) Types of Markets

• Monopolistic Competition

• Monopoly

• Oligopoly

• Pure Competition

• Partnership

• Sole Proprietorship

• Corporation

A sole proprietorship is always owned by​ ​ (a)   person

• one
• two
• three

If you can buy stock in a company, the type of business it absolutely has to be is...

• Sole Proprietorship

• Partnership

• Corporation

Decide whether the following qualities are attributes of being in the workforce or unemployed

Groups:

(a) In the Workforce

,

(b) Not in the Workforce

• Unable to work

• Younger than 16

• Not willing to work

• At least 16 years old

• Willing to Work

• Able to Work

Match the following scenarios to the type of unemployment that goes with it

• Classical

• A person leaves their job because they are moving to a different state

• Structural

• A business is hiring, but nobody is applying

• Seasonal

• A person isn't hired because hourly wage/salaries are too high

• Frictional

• A person is let go/leaves their job due to it being a certain time of year