Madison Williams

Business Management
Chapter 8
10/23/23

Review Business Management Terms

1. Q. Socialism
2. K. Labor
3. M. Natural Resources
4. J. Inflation
5. O. Privatization
6. N. Private Property
7. P. Recession
8. S. Utility
9. R. Supply
10. H. Economic Wants
11. A. Business Cycles
12. B. Capital Goods

Review Business Management Concepts

13. A. Capitalism
14. B. Consumer Price Index
15. B. Economic Growth
16. D. Land (natural resources), labor, capital goods, and entrepreneurship
17. A. Low-cost labor is the key to US competitiveness
18. A. Human Capital
19. C. Mixed Economy
20. C. Both economic and noneconomic wants

Case in Point (1-3)

1. CPI decreasing is not necessarily a bad thing. This would mean that there is less
fluctuation in the average price of goods and services for the average consumer. High
CPI is correlated to high inflation.
2. They are all short and attention grabbing. The point of a headline is to encourage the
reader to read the whole article.
3. The trash service became privately owned as opposed to government owned.