Chapter 2 Vocabulary

2. the amount of a particular good or service that consumers desire
4. to trade goods or services for other goods or services without using money
6. when companies employ people to work outside of the company
9. the value of something that must be given up to get the thing that you want
11. the amount of goods or services available for a consumer to buy
13. a person who makes good or services to sell
14. dividing a job among skilled workers
16. a raise in the usual price of many goods and services
17. a shortage
18. the money a person or business earns for doing a job or providing a good or service
19. something that encourages one to take an action or do something
20. someone who buys or uses good and services
21. to sell or trade something to another country
23. a small fee paid to bank customers in exchange for allowing the bank to use their money

1. a process in which each worker performs a single step in production
3. a free enterprise system in which supply and demand determines goods and service
5. an economy in which people are free to start their own businesses or to produce whatever good or service they want
7. the use of public notices to bring attention to a product or service
8. an economy in which the government decides what goods and services can be sold
10. the amount of goods or services company words can make or provide
12. the land or goods that people or companies own
13. the money a business earns after all its expenses are paid
15. to bring something in from another country for sale or trade
16. new inventions or ideas
22. a country's money