Economics Review

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