Final Exam Review

It is in the best interest of a sole proprietor to register as a _______ __________ ___________ to protect their personal assets. This assures the business will be liable and not the individual.

If you have a good idea for a business or innovation you should be sure to get a ______. Doing so will prevent someone else from profiting off of your idea.

A large company that has various share holders is considered to be a ___________.

An independent Entrepreneur who has a small business and has not filed has an LLC has a ____ _______________.

Obtaining enough capital, establishing a trusted brand, and government regulations are all ________ ___.

Jonh D. Rockefeller and Andrew Carnegie are known for creating very successful monopolies, this is also the reason the ____ _____ __________ laws were created.

_________ is the study of how society's unlimited wants/needs will be fulfilled with limited resources.

Problems occur and prices increases when there is a lack of resources or ________ in a society.

A very broad study in the field of Economics such as the causes and effects of inflation throughout the United States is an example of ______________.

The study of a very specific topic in the field of Economics such as the causes and effects of inflation in the city of Chicago in the past 5 years is an example of ______________.