Economics Review
Across
- 4. You and your family
- 7. Board of directors are held legally liable and can be sued for not running company properly.
- 8. A condition that results from a society not having enough resources to produce all of the things people need or want.
- 10. You have a Surplus if it is above Equilibrium Point. Surplus means that you have too many goods to sell and can't sell all of them.
- 12. The company is taxed on its profits and shareholders are also taxed on any dividends they earn from the company.
- 13. Reach up to touch the Floor. Above the floor, you will have a surplus.
- 17. Owner's personal assets can be seized to pay business debts.
- 21. You have a Shortage if it is below Equilibrium Point. Shortage means that you don't have enough goods to meet demand.
- 22. "Cerberus Poritas (all things being equal), price has a complementary relationship to quantity supplied."
- 23. Ceilings Reach down to touch the Ceiling. Below the ceiling, you have a shortage.
- 24. People of the work force
- 25. A payment made to individuals by the federal government through various social benefit programs.
Down
- 1. A benefit given by the government to institutions or businesses usually in the form of a cash payment or tax reduction.
- 2. Where you purchase goods: McDonalds Restaurant, Walmart Store, Lowes Store, Belk's in the Mall etc.
- 3. "Cerberus Poritas (all things being equal), a change in price is inverse to the relationship to the quantity demanded."
- 5. land, labor, capital, entrepreneurship
- 6. The Optimum Point in which the Demand and Supply curves meet.
- 9. Also known as Capital Goods the are Tools, Equipment, machinery, and Factories used in production.
- 11. Stockholders can't be sued and lose personal things only stock and what corporation owns.
- 14. The Corporation like McDonald Corporation, Lowe's Corporation, Walton Enterprises
- 15. Death of an owner ends the business and it must be reestablished in the new owner's name(s).
- 16. Where you work to make your income: Restaurant, Factories, Retail Stores, Schools, Hospitals
- 18. natural resources
- 19. If the corporation fails, owners of the corporation cannot lose more than what they paid for their stock. (LLC)
- 20. Individual who takes a risk in order to find profit, create jobs, and improve society (MOTIVATION TO START BUSINESS) by doing something different with existing resources