Across
- 7. Governmental restriction on international trade
- 9. Quantity of goods and services a business is willing to sell at a specific price and a specific time
- 10. Legally defined type of business ownership in which a single individual owns the business, collects all profit from it, and has unlimited liability for its debt
- 13. legally defined type of business ownership in which the business is considered a "person" ("entity") under the law, and limited liability is granted to the business owner(s)
- 14. Natural ability to do a particular type of work or activity well
- 15. System in which the government controls the production, allocation, and prices of goods and services
- 17. Economic system that blends elements of the command economy and the market economy
Down
- 1. Practice of giving employees opportunities to be creative and try out new ideas within a company
- 2. legally defined type of business organization in which at least two individuals share the management, profit, and liability
- 3. Calculation of the profit (or loss) for each unit of sale made by a business
- 4. Legally defined type of business ownership similar to a C corporation but with simpler operating requirements and tax procedures, and greater liability protection for the business owners (who are called members)
- 5. State when there are not enough goods or services to meet the demand
- 6. Way of viewing or thinking about something that affects how you feel about it
- 8. Point at which the supply curve and the demand curve intersect. It is the point at which supply and demand are balanced
- 11. System in which suppliers and consumers control the production, allocation, and prices of goods and services
- 12. Quantity of goods and services consumers are willing to buy at a specific price and a specific time
- 16. Social science concerned with how people satisfy their demands for goods and services, when the supply of those goods and services are limited