Economics Recap

4. The amount of money earned by a business after all of its expenses have been paid for
7. Money that the government collects from the public
9. AKA the factors of Production
13. How we distribute scarce resources among producers
14. A business who employ workers to produce good and services
15. A rival business who makes products in the same market
16. A person whoy buys things to use
17. Goods from another country

1. An investigation and check of whether records of a business are accurate
2. Tangible items
3. Intangible events
4. A Person or Business who makes and sells things for a profit
5. The problem of people having unlimited wants but limited resources
6. Obtaining goods and services from outside suppliers in order to reduce costs
8. A person who works for a business
10. Study of how people and society use resources to satisfy their needs and wants
11. Having a job that returns an income for the work provided
12. Goods sent to another country