Introduction to Business
Exam 1 Study Guide
Questions and Answers
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Terms in this set (60)
What is the reward of taking risks? Profit
What are the two types of economics? macroeconomics and microeconomics
What is macroeconomics? Economics in a nation
What is microeconomics? Economics in firms and businesses
Three types of economies Capitalism, Socialism, Communism
These are factors affecting which curve? Demand Curve
Income
Quality
Price of substitute/complementary goods
Promotion
Future expectations
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