Econ Review

3. Businesses have a ______ responsibility to contribute to the well-being of society.
4. the amount of a product or service that is available.
7. The reward for taking the risk of investing in business.
9. A potential risk that can cause harm to people and/or the environment.
14. _________ products are purchased quickly without much thought.
15. A market structure with only one company in control.
17. An economic system that relies on people doing things the way they have always been done.
18. _______ goods & services are designed to be purchased by customers.
20. An economic ______ is something that can be purchased but is not a tangible object.

1. When there is a shortage of a product or resource.
2. ______ goods & services are designed to be purchased and used by producers for day-to-day business.
5. A type of business that includes raw-goods producers, manufacturers, or builders.
6. An economic system where consumers get to decide what is produced.
7. A type of utility where the product is available at the location consumers desire.
8. A market structure where a few companies compete with each other.
10. Economic wants are considered _______ because they constantly change.
11. the desire for a product or service.
12. The people that work for a business.
13. A type of utility that involves the business modifying the shape or design of a product.
16. An economic _____ is something that is tangible, useful, and can be bought and owned by consumers.
19. The amount of money paid for a good or service.