Economics

3. Liability a situation in which a business owner is responsible for all the losses and debts of the business
4. the effort that people devote to a task for which they are paid
6. human made items, such as machines and tools, that are used to produce goods and services
8. Economy an economic system in which people make economic decisions based on customs and beliefs
10. a situation in which demand is greater than supply
11. a formal organization of sellers or producers who regulate the production, pricing, and marketing of a product
12. someone who buys and uses goods and services
13. economy an economic system in which the government makes all economic decisions
14. natural resources that are used to make goods and services
15. Market stock market prices rise steadily overtime
16. Act first antitrust law in america
17. studies the production, distribution, and consumption of goods and services and their management
19. the central bank of the united states

1. a sustained rise in the general price level, or a sustained fall in the purchasing power of money
2. market stock market prices slowly decline over time
5. the study of the behaviors of the economy as a whole; concerned with the large scale of activity
6. an economic system in which individuals, not the government control the production and distribution of goods and services; also called market system
7. a market structure in which only a few sellers offer a similar product
9. Capital skills and knowledge gained by a worker through education and experience
18. Net economic programs to prevent a financial fall