EPF Study Guide: Baldo Edition

What is conglomerate

• A business owned and operated by a large group of individuals for their own benefit or a business owned and operated equally by the people who use its services

• A corporation that is made up of a number of different, seemingly unrelated businesses. In it, one company owns a controlling stake in a number of smaller companies, which conduct business separately

• A successful business that grows and enters relationships with other businesses operated under the franchisors name

• Type of business in which two or more people share ownership

What is Opportunity Cost?

• Type of business in which two or more people share ownership

• a graph that shows alternative ways to use an economy’s productive resources

• using resources in such a way as to maximize the production or output of goods and services

• the most desirable alternative given up as the result of a decision

Which is an example of supply

• The amount of head shiners in stock

• Dr. T making his own head shiners

• The amount of head shiners Dr. T wants

• How Dr. T gets head shiner money

True or False: A trust is the same as a monopoly

What is an example of Demand?

• The amount of head shiners in stock

• How Dr. T earns head shiners money

• How many head shiners Dr. T wants

• How many head shiners Dr. T can afford

What is an example of a service

• A new iPhone

• Fast food

• The Official Dr. T Gaming Livestream Setup Business™

• A house

What outlaws monopolies?

• That one law that outlaws married women skydiving on Sunday in Florida

• Anti-Trust Laws

• 19th Amendment

• Jim Crow Laws

What is the term that describes "A graph of a supply schedule" (All capitals)

The term that describes "all of the alternatives whenever we choose one course of action over another” (One capital)

What is an appropriate trade-off for breathing

• Being bald

• Singing Apple Bottom Jeans

• Sitting on hot sauce

• Eternally suffering in this painful existence we call life