Economics Vocabulary
Across
- 4. any form of money that is in public circulation
- 6. opposing or restraining a trust or a monopoly, in order to promote competition
- 11. Central Bank of the United States; controls interest rates on loans and controls the money supply, affecting inflation
- 12. Consumers determine through purchases what goods and services will be produced
- 14. worldwide markets in which buying and selling of goods & services by individuals, nations, and businesses takes place
- 16. The amount of a good or service that consumers are willing and able to buy at a certain price
- 17. to control, direct, or supervise
- 18. Things that motivate people to act a certain way
- 19. What is given up when a choice is made
- 22. earnings after all expenses have been paid
- 23. To hire somebody to work in exchange for money
- 24. Selecting an item or action from a set of possible alternatives
- 25. The amount of goods or services that producers are willing and able to sell at a certain price
Down
- 1. Help facilitate an exchange of money between savers and borrowers.
- 2. Places where the prices of goods and services are determined as exchange takes place
- 3. A form of business organization that is recognized by law as a legal entity regardless of the number of owners. Owners share the profits and owner liability is limited to the amount of their investment
- 5. How resources, goods, services, and money flow continuously among households, businesses, and the government in a mixed economy
- 7. The using of goods and services.
- 8. Business owned and managed by 2 or more people who share the risks and the profits
- 9. Form of business organization where 1 owner takes all the risks and keeps all the profits
- 10. The amount of money exchanged for a good or service
- 13. Factors of production that are used in the production of goods and services
- 15. a situation in which 1 company controls an industry or is the only provider of a good or service
- 20. The inability to satisfy all wants and needs at the same time
- 21. A person who takes a risk to produce goods and services in search of a profit
- 22. The combining of human, natural, capital, and entrepreneurship resources to make goods or provide services.