Economics

3. comparison shopping is based on quality and _____.
4. a higher ________ wage may mean a reduced demand for workers
8. in this type of business setup, there is potential for great gain or huge loss for all partners
12. this person felt government should assist in times of need; government intervention
13. this reserve controls interest rates
16. technology can lead to efficiency and strong ______ growth
17. this type of fund gives you diversification of your portfolio
18. this type of government spending includes social security payments, medicare, etc.
19. acts as a medium of exchange

1. something necessary in life
2. the freest market system in the world
5. low barriers to entry make it easier for new business to enter a ______.
6. something not necessary but you would like it
7. the policy set by this body can affect the cost of production
8. machinery is this type of capital
9. the interest rate spread between treasury bonds and the federal funds rate is an economic _______.
10. principle that limited amount of goods and services are available to meet unlimited wants
11. using resources and time wisely to maximize output
14. government restriction on how high rents can go.
15. money used by many European countries