Across
- 2. Name Word, picture, or logo on a product that helps consumers distinguish it from similar products.
- 3. Part of the business cycle during which economic activity is slowing down.
- 6. The state of legally having been declared unable to pay off debts owed with available income.
- 8. Economy System in which the government controls the factors of production and makes all decisions about their use.
- 11. Production process in which machines do the work and people oversee them.
- 14. Workers Category of workers employed in crafts, manufacturing, and nonfarm labor.
- 15. Bargaining Process by which unions and employers negotiate the conditions of employment.
- 17. Person who acts as a go-between for buyers and sellers of stocks and bonds
- 18. Offices and agencies of the government that each deal with a specific area.
- 19. Account Account in which deposited funds can be withdrawn at any time by writing a check.
- 22. A set of rules describing how stock will be sold and dividends paid.
- 23. Labor Force Total number of people 16 years old or older who are either employed or actively seeking work.
- 27. Principle System of taxation in which those who use a particular service support it with taxes in proportion to the benefit they receive; those who do not use a service do to pay taxes for it.
- 29. Something of value that a borrower lets lender claim if a loan is not repaid.
- 31. Sovereignty The role of the consumer as ruler of the market when determining the types of goods and services produced.
- 33. Union and management submit the issues they cannot agree on to a third party for a final decision.
- 37. Costs Fees involved in arranging for a mortgage or in transferring ownership of property.
- 38. Taking over industries by governments without paing for them
- 40. Analysis A financial process in which a business estimates the cost of any action and compares it with the estimated benefits of that action.
- 41. Economic system in which private individuals own the factors of production.
- 43. Flow of Income and Output Economic model that pictures income as flowing continuously between businesses and consumers.
- 44. Summation of all the individual parts in the economy.
- 46. Warehouse Store Store that carries a limited number of brands and items in large quantities and is less expensive that grocery stores.
- 47. Indicators Economic indicators that usually change at the same time as changes in overall business activity.
- 49. Economic pressure exerted by unions urging ht public not to purchase the goods or services produced by a company.
- 51. Clearing Method by which a check that has been deposited in one institution is transferred to the issuer’s depository institution.
- 52. Surplus Situation when the amount of government receipts is larger than its expenditures during the fiscal year.
Down
- 1. Exchange of goods and services for other goods and services.
- 2. Market “Underground” or illegal market in which goods are traded at prices above their legal maximum prices or in which illegal goods are sold.
- 3. Advantage Ability of a country to produce a product at a lower opportunity cost than another country.
- 4. of Trade Difference between the value of a nation’s exports and its imports.
- 5. Teller Machine Unit that allows consumers to do their banking without the help of a teller.
- 6. Same as peak.
- 7. Arrangement among groups of industrial businesses to reduce international competition by controlling the price, production, and distribution of goods.
- 9. Percentage Rate Cost of credit expressed as a yearly percentage.
- 10. of Deposit Time deposits that state the amount of the deposit, maturity, and rate of interest being paid.
- 11. Socialism System that supports revolution as a means to overthrow capitalism and bring about socialist goals; the entire economy is controlled by a central government; also called communism.
- 12. Line Production system in which the good being produced moves on a conveyor belt past workers who perform individual tasks in assembling it.
- 13. Shop Company in which employees are not required to join the union, but must pay union dues.
- 14. Fluctuations Ups and downs in a economy.
- 15. Store Store open 16 to 24 hours a day, carrying a limited selection of relatively higher-priced items
- 16. of Distribution Routes by which goods are moved from producers to consumers.
- 18. to Entry Obstacles to competition that prevent others from entering a market.
- 19. Type of business organization owned by many people but treated by law as though it were a person; it can own property, pay taxes, make contracts, and so on.
- 20. Account Credit extended to a consumer allowing the consumer to buy goods or services from a particular company and to pay for them later.
- 21. Year Year used as a point of comparison for other years in a series of statistics.
- 23. Bank Bank whose main functions are to accept deposits, lend funds, and transfer funds among banks, individuals, and businesses.
- 24. Shop Company in which only union members could be hired.
- 25. Charter License to operate granted to a corporation by the state where it is established.
- 26. Principle Principle of taxation in which those with higher incomes pay more taxes than those with lower incomes, regardless of the number of government services they use.
- 28. Good A product often used with another product.
- 29. Advertising Advertising that attempts to persuade consumers that a product is different from and superior to any other.
- 30. Supply Curve A graphed line showing the relationship between the aggregate quantity supplied and the average of all prices as measured by the implicit GPD price deflator.
- 31. Shopping Getting information on the types and prices of products available from different stores and companies.
- 32. Exclusive right to sell, publish, or reproduce creative works for a specified number of years.
- 34. and Switch Ad that attracts consumers with a low-priced product, then tried to sell them a higher-priced product.
- 35. Legislation Federal and state laws passed to prevent new monopolies from forming and to break up those that already exist.
- 36. Loss Decrease in value of an asset from the time it was bought to the time it was sold.
- 38. Large Corporation made up of smaller corporations dealing in related businesses.
- 39. Rivalry amount producers or seller of similar goods and services to win more business.
- 40. Movement to educate buyers about the purchases they make and to demand better and safer products from manufacturers.
- 41. Deposits Funds deposited in a bank that can be withdrawn at any time by presenting a check.
- 42. All items to which a business or household holds legal claim.
- 43. American Free Trade Agreement (CAFTA) Trade agreement designed to reduce tariff barriers between Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, the Dominican Republic and the United States.
- 44. Advantage Ability of one country to produce more output per unit of input than can another country.
- 45. of Incorporation Document listing basic information about a corporation that is filed with the state where the corporation will be headquartered.
- 47. Money A medium of exchange such as cattle or gems that has value as a commodity or good aside from its value as money.
- 48. Term used by Karl Marx for his idealized society in which no government in necessary.
- 50. Stock Shares of ownership in a corporation that give stockholders voting rights and a portion of future profits (after holders of preferred stock are paid).