Across
- 2. a low point or local minimum in a business cycle
- 4. fluctuation of an economy's economic activity over time, as measured by the rise and fall of its gross domestic product (GDP)
- 7. the rate at which the prices of goods and services in an economy increase over time
- 8. when someone is able and willing to work but does not have a paid job
- 9. a formal agreement between two or more individuals to jointly operate a business, sharing its profits and losses
- 11. how people and societies make choices about using resources to produce, distribute, and consume goods and services
- 13. when demand for a good or service is greater than its availability
- 14. where a person pays for the right to operate a business under a brand
- 15. the highest point in a business cycle
- 16. an obligation to transfer an economic benefit to another entity or business
Down
- 1. a period of sustained growth in an economy
- 3. a sustained period of economic decline
- 5. a business owned by a single individual, with no legal distinction between the owner and the business
- 6. a measure of the value of all final goods and services produced in a country within a specific time period
- 10. a legal entity that operates a business for profit and is separate from its owners
- 12. types of resources used to produce value in an economy