Economics Unit 2 & 2.1 Review

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Across
  1. 4. When personal assets can be used to pay down any outstanding business debts.
  2. 6. The easiest and least expensive business organization to set up, common among those who work out their homes. (Hair stylist, small engine repair, computer repair, tutor)
  3. 7. This change in demand is related to what price the consumers believe the product will be like in the future.
  4. 8. What a government may implement if there believe people are paying too much for a product or service. (ie. Rent Control)
  5. 9. The bad winter we had this year affected many businesses and is an example of this change in supply.
  6. 11. Person in a business deal who wants the price to be a low as possible.
  7. 13. This is where the buyers and sellers meet in the middle; the price at which there is no shortage or surplus as the demand meets the supply.
  8. 16. When only a persons investment in a company can be used to pay down any outstanding business debts, and not any personal assets.
  9. 17. Person in a business deal who wants the price to be as high as possible.
Down
  1. 1. If you chose to buy a less desirable brand of cola because the price is better, you are displaying an example of this change in demand.
  2. 2. BMW, Bombardier Inc., PepsiCo are all examples of this type of business organization.
  3. 3. This change in demand is related to increase or decrease in the number of consumers, saying that demand increase when the number of consumers increase and vice versa.
  4. 5. What a government may implement if they believe sellers are not getting enough $ for a product or service.
  5. 10. The quantity demanded varies inversely with the price, as long as other things do not change.
  6. 12. A place where a product is bought or sold, all the buyers and sellers of a particular good or service and the process by which a buyer and seller arrive at a mutually acceptable price and quantity.
  7. 14. Business organization in which you share management, assets and profits.
  8. 15. A Credit Union is an example of this type of business organization
  9. 16. The quantity supplied will increase if price increases and fall if price falls as long as other things do not change.