- 3. a person who organizes and manages any enterprise especially a business usually with considerable initiative and risk
- 5. a branch of mainstream economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.
- 7. of trade: the difference in value over a period of time between a country's imports and exports of goods and services, usually expressed in the unit of currency of a particular country or economic union
- 10. economics: refers to the school of thought of economics that originated in the late 18th and early 19th centuries, especially in Britain.
- 14. a branch of economics which deals with the performance, structure, behavior, and decision-making of an economy as a whole.
- 16. a service or other asset used to produce goods and services that meet human needs and wants
- 17. anything that helps us produce things faster, better or cheaper.
- 20. the demand for a good or service is greater than the availability of the good or service
- 21. deficit: the amount by which the cost of a country's imports exceeds the value of its exports
- 22. refers to the policy of protecting domestic industries against foreign competition through tariffs, import quotas and subsidies, or other restrictions placed on the imports of foreign competitors.
- 24. a measure of the rate of rising prices of goods and services in an economy.
- 1. people who are jobless, actively seeking work, and available to take a job
- 2. the consumer's desire and willingness to buy a product or service at a given period or over time.
- 4. an asset acquired or invested in to build wealth and save money from the hard earned income or appreciation.
- 6. of payments: the difference between all money flowing into the country in a particular period of time and the outflow of money to the rest of the world.
- 8. the ability of a consumer or producer to decide which good, service or resource to purchase or provide from a range of possible options
- 9. items that add some kind of benefit to the lives of the people who consume them
- 11. the total amount of a given product or service a supplier offers to consumers at a given period and a given price level.
- 12. an intangible commodity
- 13. the amount of money that a buyer gives to a seller in exchange for a good or a service.
- 15. belief in the benefits of profitable trading; commercialism.
- 18. growth: the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year.
- 19. the amount of physical, mental, and social effort used to produce goods and services in an economy
- 23. surplus: the amount by which the value of a country's exports exceeds the cost of its imports.