Tara doesn't like working at her current job anymore and decided to quit and look for work at other companies.

The Kia car maker just replaced Tyrone with a robot that can do the job 5 times as fast. Tyrone is now unemployed.

Bree just graduated from college and is looking for her 1st job.

Brian is a life guard at the beach. Because it is now winter, he is currently not working and looking for another job.

Taylor used to be a parking attendant, but she is now out of a job because the company installed an automatic pay machine.

Reebok said their sales were down for the first quarter. Two hundred employees were laid off.

Ryan makes a lot of money with his snow plow in the winter, but in the summer he has to look for other work.

Mika was let go from her current job. She was calling in every week because she was going on interviews for other jobs.

Keira won't be working at Six Flags after Christmas because the park will close. She will start back again in March.

SunTrust stadium hired a lot of people in the summer to work the Braves games. Over the winter many of those people were out of work and applied to work at the Mercedes Benz Stadium during the Falcons games.

During the recession, construction workers were laid off from their jobs because the building of homes came to a halt.

The secretaries at IBM used typewriters. Many of the secretaries were laid off when IBM stopped using typewriters and started buying computers for them to use.

Gerard sells ice cream outside at Centennial Park in the summer. In the winter he is unemployed.

Landi doesn't like working for Google anymore, so she quits while she waits to hear from Amazon and Microsoft.

Atlanta Gas Light company closed all of its walk-in locations. Customers must mail their payment or pay online. Employees who worked at the locations were laid off.

The Kodak camera company had very low sells for cameras for the year due to cell phone makers adding camera's to phones. Kodak had to lay off workers.

The candy stands in the airports were replaced by vending machines. Each person who operated one of the stands is now out of a job.

Mr. Johnson used to fix typewriters, but they are now obsolete. People are using computers. If he wants to keep working he must learn to do something new, such as repairing computers.

Rico cuts grass in the summer, but now it's winter and snow is falling, there is no grass to cut.

Which of the following might upset the board of directors in a corporation?

Suppose a firm that makes appliances merges with a company that makes clothes, and later it buys a slaughter house. What is this combination called?

What government agency's regulation would MOST LIKELY require factory workers to wear hard hats, safety glasses, and ear plugs?

Which of the following could be a disadvantage of a sole proprietorship?

Bob and Tom own a restaurant together. They share equal responsibility and each receive 50% of the profits. What kind of business organization is this?

Some businesses are not organized to maximize profits. Instead their goals are to work for the good of all their members or to work for the good of society. This describes

What type of business might offer low-interest loans to its members?

In general, what is the correlation between education and income.

In the United States, which type of business accounts for the greatest share of revenues?

The board of directors of a corporation is responsible for

The country of North Korea has a dictator that makes almost all of the economic decisions. What type of economy is this?

When there are not enough resources to produce everything people want and need it is called....

A consumer is

What is the definition of specialize?

The amount of goods available is called

Which economic system is based on customs and beliefs, people will do the same work as their parents, and the exchange of goods is through bartering (no money)?

Which economic system does the government make all economic decisions and owns all of the means of production and all property - it is sometimes called communism?

What is a service?

What is a consumer?

An economy in which private enterprise exists in combination with a considerable amount of government regulation:

You have a part-time job. You are paid every Friday. Over the weekend, you choose how to spend your money. Sometimes you go to the movies and other times you go bowling. You probably live in a ____ economic system.

What are some economic activities of a free market system?

With companies like Starbucks found around the world, this is an example of -

When oil is pulled out of the ground in order to be used for gasoline, tires, sneaker soles, what industry is that?

When Honda Motors takes steel sheets and leather seats and electronics and makes them into a brand new minivan what industry are they part of?

When a family brings their minivan back to the dealership to have the brakes fixed, which industry would that be?

Why do entrepreneurs take risks?

The crops and animals on a farm are examples of which factor of production?

In which of the following economic systems do individuals make all the choices about what to make, buy, and sell?

Resources such as tools and equipment that must be bought to help produce goods

In a command economy, the ___________ is the central planner of the economy and owns the factors of production.

__________ is the study of how individuals and groups use limited resources to fulfill unlimited wants and needs.

While _______ are the essentials of survival (food, water, shelter) ________ are what people would like to have, but they are not necessary for survival.

The Law of Demand says as price ___________ demand___________.

When demand changes a lot with the price of a good that is

Which of the following is not a non-price factor that affects demand?

The Law of Supply says that as price_________supply___________

Items that have supplies that are increased with difficulty are_____________

Which of the following is not a non-price factor of Supply?

Which of the following is not a reason for a change in equilibrium?