Economics Review

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Across
  1. 2. Ceilings;a legally established maximum price.
  2. 4. business owned by stockholders who share in its profits but are not personally responsible for its debts
  3. 6. Federal Reserve Bank:Central bank of the United States; Which conducts Monetary Policy
  4. 11. person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
  5. 12. (Resource) Market:Where you work to make your income: Restaurant, Factories, Retail Stores, Schools, Hospitals
  6. 13. market structure in which a few large firms dominate a market
  7. 15. work
  8. 18. Competition: a market structure in which many firms sell products that are similar but not identical
  9. 21. A plan for making and spending money
  10. 22. Competition:theoretical market structure characterized by a large number of well-informed independent buyers and sellers who exchange identical products and have freedom of entry and exit
  11. 23. Equipment, machinery, and Factories used in production
Down
  1. 1. money is:money backed by a government's decree that it be accepted as a means of payment.
  2. 3. Economy;An economy in which production is based on customs and traditions and economic roles are typically passed down from one generation to the next.
  3. 4. Poritas:All things being equal
  4. 5. Policy: Government policy that attempts to manage the economy by controlling taxing and spending.
  5. 6. that must be given up when one choice is made rather than another
  6. 7. Wants but limited resources
  7. 8. economy:economic system in which decisions on production and consumption of goods and services are based on voluntary exchange in markets
  8. 9. of exchange;used in transactions between individuals, businesses, financial institutions, & gov'ts
  9. 10. economy:an economy in which production, investment, prices, and incomes are determined centrally by a government.
  10. 14. Market:Where you purchase goods: McDonalds Restaurant, Walmart Store, Lowes Store, Belk's in the Mall etc.
  11. 16. cost:whatever must be given up to obtain some item
  12. 17. Economy:an economic system combining private and public enterprise.
  13. 19. of value:belief that money saved today will purchase a similar amount of goods/services in the future.
  14. 20. A market in which there are many buyers but only one seller.