Economics Definitions

1. Physical money
2. It is bought so it can be used with another item
3. The continual increase in the price of goods and services
7. Buying something with a promise to pay it back later
12. ________ is necessary to improve on existing products and how they are produced and distributed.
14. Example: Insurance
15. People or businesses that buy goods or services.
17. A complex system of interrelated production, consumption, and exchange activities, which ultimately determine how resources are allocated among participants.
18. The workforce is made up of ______ _______
19. A period of time where there is little economic activity, an era
20. There are 3 types of _____ ______
23. Synonym for the word: Down payment
24. Brands such as Louis Vuitton make _____ Goods

1. The relationship between rival businesses
4. Materials coming from earth, water and air.
5. Money that is owed
6. A brand new, unique idea, thought or fabrication
8. Equipment, building, money, that is used to produce goods & services.
9. Cannot be perceived by touch.
10. The limit of money allocated to something
11. Are goods which, as a result of changed conditions, may replace each other in use (or consumption).
13. Something physical that is essential
16. Clue (Anagram): Rearrange, dogos
21. Example: Purchasing a stock
22. Archived products