![Economic Links to Business ,[object Object],[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Chapter 2 Fall 2008 Bom Economics
- 1. Chapter 2 How Economic Issues Affect Business
- 4. Three Economic Systems Communism Socialism Capitalism (Highly Controlled by Government ) (Little Control by Government ) Mixed
- 8. Free-Market Competition Monopolistic Competition Oligopoly One Sellers Many Monopoly Perfect Competition
- 10. Supply Curve Quantity(S) High High Low Price(P) S
- 11. Demand Curve Price(P) Quantity(D) High High Low D
- 12. Quantity High High Low Price Equilibrium Point Market Equilibrium S D Surplus Shortage
- 18. Inflation & the Components of the CPI Consumer Price Index (CPI) is the index economists use to measure the effects of inflation Food 18.5% Housing 38.0% Clothing 5.0% Transportation 21.5% Medical Care 6.5% Entertainment 5.0% Other Goods and Personal Services 5.5%
- 21. Who Pays the Least Taxes? France Germany Italy Canada Britain Japan U.S. 0 25 30 35 40 45 50 Total Receipts All levels of government