Economics Review

6. a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law
7. an amount of something left over when requirements have been met; an excess of production or supply over demand
8. a graph that shows all of the different combinations of output that can be produced given current resources and technology
11. a fixed share of something that a person or group is entitled to receive or is bound to contribute
12. the state of being scarce or in short supply
15. a business that can be owned and controlled by an individual, a company or a limited liability partnership
17. the cost added by producing one additional unit of a product or service

1. the unemployment which exists in any economy due to people being in the process of moving from one job to another
2. the additional benefit arising from a unit increase in a particular activity
3. unemployment resulting from industrial reorganization, typically due to technological change, rather than fluctuations in supply or demand
4. occurs when people are unemployed at particular times of the year when demand for labor is lower than usual
5. a tax or duty to be paid on a particular class of imports or exports
9. a state or situation in which something needed cannot be obtained in sufficient amounts
10. a state in which opposing forces or influences are balanced
13. the loss of potential gain from other alternatives when one alternative is chosen
14. the state of being a partner or partners
16. labor, capital, land, entrepreneurship