Business

3. resources people that work to produce and services in a business
4. the willingness and ability of a consumer to buy goods and services at a specific price
8. economy when there is a drastic change in market activity
9. a person who uses goods or services
11. system an economic system where two forces, known as supply and demand, direct the production of goods and services
13. depression a sustained period of significant economic decline that sees a nation's GDP drop, unemployment rates rise and consumer confidence suffer
15. goods an item that can be seen or touched and is essential for survival
16. resources equipment, building, money that is used to produce goods and services
17. general increase in the price of goods and services over a period of time
20. goods a product or service that consumers see as essentially the same or similar-enough to another product
21. the total amount of a specific good or service that is available to consumers
22. resources means through which goods and services are made available to consumers
24. goods an item which can be seen or touched but is not necessary for survival
25. an item not necessary for survival but that adds pleasure and comfort to life

1. economy those in which customs and traditions are more important than money
2. resources those raw materials that we get from earth
5. cannot be perceived by touch
6. economy one that combines aspects of both capitalism and socialism
7. an item that can be seen or touched
10. a period between a peak and a trough in the business cycle where there is a significant decline in economic activity spread across the economy that can last from a few months to more than a year
12. the state in which market supply and demand balance each other, and as a result prices become stable
14. goods products that are typically used together
18. an item necessary for survival
19. people or business that buy goods or services
23. economy one in which a centralized government controls the means of production and determines output levels