Economics Review

3. type of business organization with shareholders owning small pieces of business
6. role of money that allows us to save up for purchases later
8. market structure with several big companies controlling the market
9. nation that produces most of a product
10. role of money allowing comparisons
11. GDP
13. type of liability where you aren't held personally responsible
15. act of businesses trying to get you to be their customer
16. 1 of 3 basic economic questions related to which product a business should make
19. nation with lowest opportunity cost
22. type of business organization with only 1 owner
24. curve that gives options for production
27. increase in price levels
29. condition that exist when unlimited wants & needs are greater than limited resources
31. type of economic system ruled by supply and demand, aka capitalist
32. states that businesses will make more products available as prices increase

1. type of economic system where economic questions are answered by way things have always been done
2. measure of how many people are seeking work
4. actions carried out by the Federal Reserve to contract and expand the economy
5. 1 of 3 basic economic questions related to process of making a product
7. market structure with many sellers & slightly different products
12. type of economic system combining features of command & market
14. actions carried out by the President & Congress to contract or expand the economy
17. market structure with many sellers & identical product
18. states that consumers will purchase less products as prices increase
20. 1 of 3 basic economic questions related to where the product ends up
21. role of money that simplifies purchases
22. focusing on producing only on a few things
23. type of business organization with 2 or more owners
25. graph of GDP over time
26. cost of borrowing money
28. market structure with one large company controlling the market
30. type of economic system controlled by government, aka centrally planned