2.04 vocabulary

2. the human, natural and capital goods used to produce goods and services
4. assumes the risk of starting a business
7. anything of value people own
9. anywhere the buying and/or selling of goods takes place
10. people who work to produce goods and services
12. organized way in which a country handles it's decisions and solves it's economic problems
14. The desire to make a profit which moves people to invest in business

1. price determines what people buy
3. individuals and groups control a business or production rather than government
5. manufactured or constructed items used in the production of goods or services
6. an economic system in which the question of what, how, for whom goods will be produced are answered by individuals and business in the marketplace
8. items found in nature and used to produce goods or services
9. an economic systems in which individuals make most economic decisions but some government control and ownership exist
11. the rivalry between two or more businesses to attract scarce customer dollar
13. monetary reward a business owner for taking the risk involved in investing in a business; income left once all expenses are paid