Economics Review

3. If the supply curve shifts right this represents a __________ in supply.
4. If the price is above the equilibrium price this will create a ___________.
5. Money you make from a stock investment
10. Your pay before any deductions
11. Most products are distributed through private markets to people who are willing to pay for the goods and services.
13. occurs when people are willing to buy a different quantity of a product at the same price.
14. Markets in which productive resources are bought and sold.
16. If the demand curve shifts left this represents a __________ in demand.
17. The fundamental economic problem resulting from society not having enough resources to produce all the things people need and want.

1. Illustrates the flow of resources and products from households to businesses and from businesses to households, along with corresponding flow of money.
2. Your pay after all deductions
5. Money you make from something you are not currently working on
6. An increase in a nation’s total output of goods and services over time.
7. The monetary (money) value of all final goods, services, and structures produced within a country’s national borders during a one-year period.
8. income Money in exchange for work you do.
9. Goods are produced in state-owned facilities and in theory should be distributed equally among the population.
12. A percentage of the principal
15. Insures each bank customer for $250,000