Economics Final

3. resources required to produce the things we would like to have; land labor and entrepreneurs
7. economic system of choice in many parts of the world
8. how many dollars worth of goods and services were made in america over time
12. as your income goes up the percentage of your income that you pay in taxes goes up
14. amount of product that would be offered for sale at all possible prices that could prevail in the market
16. tools, equipment, machinery, and factories that are used in the production of goods and services
18. people with all their efforts, abilities and skills
20. a risktaker in search of profits who does something new with existing resources
23. funds that purchase stock in companies anywhere around the world, including the US
25. the price for that product that we see in the stores
26. can be touched

1. natural resources that humans cannot create
2. these are funds that primarily purchase stock in US based companies
4. increases the supply of money to generate economic growth
5. index used to calculate inflation rate
6. largest category of discretionary spending in the federal economy
9. the act of buyers and sellers freely and willingly engaging in market transition
10. a collection of stocks versus an individual stock or bond
11. resources that are privately owned, and competition is allowed to flourish with a minimal government interference
13. something you can touch
15. an inflation rate of 4% or lower
17. cannot be touched
19. a measurfe of the amount of goods and services produced with a given amount of resources in a specific time period
21. the study of how human beings choose to use their scarce resources
22. period of declining economic performance across an entire economy that lasts for several months
24. something you cannot touch but receive