Economics

3. total revenue minus total cost
6. a table that shows the relationship between the price of a good and the quantity demanded
7. A business in which two or more persons combine their assets and skills
8. A business owned by one person
10. What you expect prices to do in the future can influence your buying habits today.
11. A legal minimum on the price at which a good can be sold
13. A market structure in which a few large firms dominate a market
14. fixed costs plus variable costs
17. an establishment formed to carry on commercial enterprise
19. the change in consumption resulting from a change in real income
20. a graph of the relationship between the price of a good and the quantity supplied

1. A focus on a particular activity or area of study
2. A legal maximum on the price at which a good can be sold
4. when consumers react to an increase in a good's price by consuming less of that good and more of other goods
5. the cost of producing one more unit of a good
9. Price x Quantity
12. money received, especially on a regular basis, for work or through investments.
15. A business owned by stockholders who share in its profits but are not personally responsible for its debts
16. Trends and fashions that are highly desirable to the consumer
18. The application of scientific knowledge for practical purposes