Chapter 17 The Economic System

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Across
  1. 2. shares of ownership
  2. 4. money that a business has left after expenses
  3. 5. principle that business owners in a free market are allowed to run their businesses in any way they see fit, which little government interference
  4. 7. right to buy and sell goods as you want
  5. 11. items provided by nature without human intervention that can be used to produce goods and provide services
  6. 13. lack of a particular resource
  7. 14. economic principle that buyers will demand and buy more products when prices are low and fewer products when prices are higher
  8. 16. corporate profits paid to stockholders
  9. 17. small business owned by one person
  10. 19. what a company has when it is the only one selling a product or providing a service
  11. 20. economic principle that businesses will produce more products when they can sell them at higher prices and fewer products when prices are low
Down
  1. 1. organizations that provide goods and services without seeking to earn a profit for stockholders
  2. 3. person who organizes, manages, and assumes the risks of a business
  3. 6. economy in which people are free to obtain goods ad services in almost any way they want
  4. 8. people who buy corporate stocks
  5. 9. business in which two or more people share the responsibilities, costs, profits, and losses
  6. 10. economic system in which the means of production are owned by private citizens
  7. 12. type of business that is recognized as a separate legal entity
  8. 15. manufactured goods used to make other goods and services
  9. 18. human effort, skills, and abilities used to produce goods and services