Economics Review

4. The idea that resources are limited, but demands are unlimited.
10. the total economic output of the entire country in current dollar values
11. laws that prevent monopolies from forming
12. how much people want or need a good
13. This represents the number of unemployed people as a percent of the labor force
17. the four components--land, capital, labor, and entrepreneurship--that go into making products
18. All employed and unemployed people together - both those working and those looking for work
19. government policy that addresses business and financial practices
21. government policy that focuses on the circulation of money

1. time and effort people put into making a product
2. ideas, organization, and leadership people put into making a product
3. government policy that focuses on the government budget
5. when most prices in an economy are rising
6. father of capitalism
7. what you give up when you make an economic choice
8. the tools, buildings, and money needed to make a product
9. how much of a good is available
14. type of market that has only one firm, no competition, and can command whatever price it wants
15. father of communism
16. The expected rise and fall of economic well-being that occurs over time
20. the raw materials needed to make a product