Business Review

1. Someone who starts their own business, often taking on financial risks.
2. Marginal Utility Decrease in satisfaction as more units of a product are consumed.
4. The financial gain made in a business after subtracting expenses.
8. The study of how people use resources to satisfy their needs and wants.
11. The desire to own something combined with the ability to pay for it.
12. Demand Demand that changes significantly when the price changes.
14. The point where supply equals demand.
15. Something desired but not necessary for survival.
17. Domestic Product The total value of all goods and services produced in a country.
19. A risky or daring business undertaking.
20. A market dominated by a single seller.
22. Physical items that satisfy needs or wants.

1. The process of starting and running a new business.
3. Demand Demand that changes little when the price changes.
5. of Production The resources needed to create goods and services.
6. Something essential for survival.
7. Limited availability of resources.
9. Structure The organization and characteristics of a market.
10. Activities or benefits provided to satisfy needs or wants.
13. Cycle The fluctuation of economic growth and decline over time.
16. Enterprise System An economic system where private businesses operate with minimal government regulation.
18. The amount of a product that is available for sale.
21. A market controlled by a small number of large firms.