Economics

3. you choose one thing which causes you to have to give up, or sacrifice, another. In economics, trade-offs are evaluated based upon their opportunity cost
7. The sum of money paid regularly by a company to its shareholders
9. Products that “compliment” each other
11. Mandatory payments collected from individuals and corporations by a government entity to fund government activity
12. real property that includes land and anything permanently attached to it or built on it, whether natural or man-made
15. the process of developing, organizing, and running a new business to generate profit while taking on financial risk
16. the rate of increase in prices over a given period of time
17. Deals with the structure, performance, behavior, and decision-making of the whole, or aggregate, economy.
20. the process of creating a plan to spend your money

1. Pessimism: economy is contracting and last an average length of 1 year
2. The study of economics on an individual level
4. A product or service that can be used in place of another
5. a means of communication with the users of a product or service
6. Optimism: economy is expanding and last an average of 7 years
8. means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury
10. the action or fact of leaving one's job and ceasing to work
13. Father of modern Economics
14. known as equity, is a security that represents the ownership of a fraction of the issuing corporation. Units of stock are called "shares" which entitles the owner to a proportion of the corporation's assets and profits equal to how much stock they own.
18. value of what is lost when choosing one thing over another
19. economic system in which private individuals or businesses own capital goods