Last Day Puzzle

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Across
  1. 7. A business organization owned and operated by two or more people
  2. 9. economy System where government controls factors of production and makes all decisions
  3. 11. incentive The desire to earn a financial return that motivates business owners
  4. 15. proprietorship A business owned and operated by one person who has unlimited liability
  5. 16. Exchanging one good or service to purchase or produce another
  6. 18. Business organization treated as a single person by law with limited liability
  7. 19. possibilities curve Graph showing the maximum combinations of goods a nation can produce
  8. 21. price The price established where quantity demanded exactly equals quantity supplied
  9. 23. of living Measurement of material well-being based on how wants and needs are satisfied
  10. 26. System where private individuals own productive resources within legal limits
  11. 30. The loss of value in durable goods over time due to wear and tear
  12. 33. Spreading investments across different accounts or assets to lower risk
  13. 34. A risk-taking individual who starts and manages a new business for profit
  14. 36. A legal declaration of inability to pay debts based on income received
Down
  1. 1. economy Economic system based on customs and beliefs handed down through generations
  2. 2. Movement to educate buyers and demand safer better products from manufacturers
  3. 3. of supply Economic rule stating that price and quantity supplied move in the same direction
  4. 4. Receiving funds today to buy goods with a promise to pay in the future
  5. 5. Condition when quantity demanded is greater than quantity supplied at current price
  6. 6. The basic problem of economics where resources cannot meet all human wants
  7. 8. The study of how people choose to use limited resources to satisfy wants
  8. 10. A market controlled by a single supplier of a product with no close substitutes
  9. 12. of production The resources of land labor capital and entrepreneurship used to create output
  10. 13. competition Market structure with numerous sellers where no single firm controls prices
  11. 14. Condition when quantity supplied is greater than quantity demanded at current price
  12. 17. An industry dominated by a few large suppliers who exercise control over price
  13. 20. cost The value of the next-best alternative given up when a choice is made
  14. 22. debt Loan repaid with equal monthly payments over a specific period of time
  15. 24. The amount of a product consumers are willing and able to buy at various prices
  16. 25. system The way a nation uses its resources to satisfy its people's needs and wants
  17. 27. of demand Economic rule stating that price and quantity demanded move in opposite directions
  18. 28. economy An economic system combining private enterprise and government regulation
  19. 29. fund An investment company that pools money from many individuals to buy varied stocks
  20. 31. economy System where individuals own resources and freely choose what to consume and produce
  21. 32. percentage rate The total cost of credit expressed as a yearly percentage
  22. 35. The amount of a product producers are willing and able to sell at various prices