Economics 3rd 9 weeks review

1234567891011121314151617181920
Across
  1. 4. The owner is personally and fully responsible for all losses and debts of the business
  2. 8. a business owned by one person
  3. 10. A situation in which quantity demanded is greater than quantity supplied
  4. 12. a corporation pays income taxes on its earnings, and when dividends are distributed to stockholders, the stockholders pay taxes a second time on the corporate dividends they receive
  5. 13. A form of business ownership in which the owners are liable only up to the amount of their individual investments.
  6. 17. Latin for all things equal
  7. 19. A situation in which unlimited wants exceed the limited resources available to fulfill those wants
  8. 20. A legal minimum on the price at which a good can be sold
Down
  1. 1. costs of resources and input, technology, natural conditions, number of firms, expectations
  2. 2. price at which consumers and producers agree
  3. 3. situation in which a firm ceases to exist when an owner dies, quits, or sells the business
  4. 5. consumers buy more of a good when its price decreases and less when its price increases
  5. 6. a business owned by shareholders
  6. 7. Tendency of suppliers to offer more of a good at a higher price
  7. 9. a business owned by two or more people
  8. 11. a maximum price that can be legally charged for a good or service
  9. 14. a payment made or income received in which no goods or services are being paid for, such as a benefit payment or subsidy.
  10. 15. Any change will cause a shift of the entire demand curve; Incomes, preferences, compliments, substitutes, e.t.c.
  11. 16. A government payment that supports a business or market
  12. 18. A situation in which quantity supplied is greater than quantity demanded