Economics

2. a payment to someone or a firm, usually by the government to offset market failures and to achieve greater efficiency
5. employees, workers, etc.
7. a type of tax where higher incomes pay greater percentages of their incomes
9. change in total production cost from producing one additional unit
10. a type of corporation exempt from tax but must benefit the public
12. a basic good used in commerce that is interchangeable with other goods of the same type
13. when supply=demand, the market is at ______
15. enterprise run by one person who has unlimited liability

1. part of the economy controlled by the government
3. economics is the study of _______
4. market that has a small number of big suppliers
6. a spending bill by Congress
8. an individual establishes the brand's trademark and another pays a royalty for the right to do business under the brand
11. a good that decreases in demand with an increase in income
14. when supply exceeds demand
16. tax on money or property left behind when a person dies