Economics

3. What is the study of how people satisfy their wants and needs by making choices?
4. the change in quantity demanded due to a change in price is called?
5. What states the quantity purchased varies inversely with price?
9. What is the broadest measure of economic growth?
10. What is it called to make something needed or wanted available to someone?
11. The amount of money that you have to pay to the government so it can pay for public services is called?
15. ____ occurs when a person is actively searching for a job but can't find one.
18. What is the basic problem in economics?
19. What is an estimation of revenue and expenses over a specified future period of time ?
20. What can refer to any mechanism used for generating future income.
21. When money is given to another party in exchange for repayment is called
22. The change in interest rates and money supply is called?
24. What is it called when the quantity does not change when the price does?

1. Which type of economic system is the most common in the world?
2. Government spending and taxation to influence the economy is called?
6. The total amount of money, cash, coins and balances in the bank accounts called?
7. The loss of a potential gain from other alternatives is called?
8. The cycle of ups and downs in the economy is called ?
12. An insistent and peremptory request made by its rights?
13. What is the measure of the rate of rising prices of goods and services?
14. What is the name for the protection of rights and interests of the general pool of buyers,or an obsession with buying material goods.
16. Regulations and agreements that control imports, exports to foreign countries called?
17. What is a contract agreement to borrow a sum of money and repay the lender at a later date?
23. The area of the economy frequently subtracted from the GDP is called?