Across
- 4. The owner is personally and fully responsible for all losses and debts of the business
- 8. a business owned by one person
- 10. A situation in which quantity demanded is greater than quantity supplied
- 12. a corporation pays income taxes on its earnings, and when dividends are distributed to stockholders, the stockholders pay taxes a second time on the corporate dividends they receive
- 13. A form of business ownership in which the owners are liable only up to the amount of their individual investments.
- 17. Latin for all things equal
- 19. A situation in which unlimited wants exceed the limited resources available to fulfill those wants
- 20. A legal minimum on the price at which a good can be sold
Down
- 1. costs of resources and input, technology, natural conditions, number of firms, expectations
- 2. price at which consumers and producers agree
- 3. situation in which a firm ceases to exist when an owner dies, quits, or sells the business
- 5. consumers buy more of a good when its price decreases and less when its price increases
- 6. a business owned by shareholders
- 7. Tendency of suppliers to offer more of a good at a higher price
- 9. a business owned by two or more people
- 11. a maximum price that can be legally charged for a good or service
- 14. a payment made or income received in which no goods or services are being paid for, such as a benefit payment or subsidy.
- 15. Any change will cause a shift of the entire demand curve; Incomes, preferences, compliments, substitutes, e.t.c.
- 16. A government payment that supports a business or market
- 18. A situation in which quantity supplied is greater than quantity demanded