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Econ Chapters 1-3 and NFL Teams2

Horizontales
One disadvantage of a sole proprietorship is limited ___
The option which you give up when you make and economic decision is called the opportunity ____
A form of business organization recognized by law as a separate legal entity having all the rights of an individual is a (an)
If Nike merged with Foot Locker and a shoe lace factory, these would be considered_____ mergers
In specialization, workers tend to do ____ task very well
The most common form of business ownership in the United States is
If you have the same occupation as your father and grandfather, you most likely live in this type of economy
Cleveland
Factor of production/human effort
An important factor in a free enterprise system
Market structure in which a single seller dominates the market
What group of people ultimately determines the products that a free enterprise economy produces?
Economy which features decentralized decision making
Tennessee
Atlanta
Factor of production/human effort
Verticales
A voluntary association that buys bulk amounts of goods on behalf of its members
Philosophy that government should not interfere with business activities is know as "laissez-??"
For something to have value, it must have
If Nike merged with Adidas, it would be considered a ____ merger
A risk taker in search of profits is known as a (an)
The three basic economic questions are what to produce, how to produce it, and for ____ it is produced
Kansas City
Agreement, usually illegal, among producers to fix prices, limit output or divide markets
noise pollution for those living along a freeway would be a negative
Real or imagined differences between two products
study of efforts to satisfy seemingly unlimited wants with scares resources
Las Vegas
New Orleans
Market structure in which a few sellers dominate the market
San Francisco
In this type of economy, the government makes major economic decisions
Factor of production/tools
A business with one owner is a ___ proprietorship
Tampa Bay