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  1. 4. the movement of a business process done at a company in one country to the same or another company in another different country
  2. 6. The aggregate of all human physical and mental effort used in creation of goods and services
  3. 8. materials that satisfy human wants and provide utility
  4. 10. the belief that economies and businesses function best when there is no interference by the government
  5. 11. any business that uses components parts or raw materials to make a finished good
  6. 12. The freedom to prosper within a country without intervention from a government oreconomic authority individuals are free to secure and protect hisher human resources labor and private property
  7. 13. distinguishable from public property which is owned by a state entity and from collective (or cooperative) property which is owned by a group of non-governmental entities
  8. 15. an economy in which production investment prices and incomes are determined centrally by a government
  9. 17. an original economic system in which traditions customs and beliefs help shape the goods and the services the economy produces as well as the rules and manner of their distribution countries that use this type of economic system are often rural and farm-based
  10. 18. an economic system combining private and public enterprise
  11. 20. international movement of people into a destination country of which they are not natives or where they do not possess citizenship in order to settle or reside there
  12. 21. an economic activity where an immaterial exchange of value occurs
  13. 23. an economic measure of a negative balance of trade in which a country's imports exceeds its exports
  1. 1. many excess assets including income profits capital and goods
  2. 2. a practice used by different companies to reduce costs by transferring portions of work to outside suppliers rather than completing it internally
  3. 3. the motivation of firms that operate so as to maximize their profits
  4. 5. the economy of the world considered as the international exchange of goods and services that is expressed in monetary units of account (money)
  5. 7. an economic measure of a positive balance of trade where a country's exports exceed its imports
  6. 9. a system in which the prices for goods and services are determined by the open market and consumers in which the laws and forces of supply and demand are free from any intervention by a government price-setting monopoly or other authority
  7. 14. philosopher and economist famous for his ideas about capitalism and communism
  8. 16. the means by which countries and governments distribute resources and trade goods and services
  9. 19. the capitalist class who own most of society's wealth and means of production
  10. 22. the social class that does not have ownership of the means of production and whose only means of subsistence is to sell their labor power for a wage or salary
  11. 24. one of the world's most famous economists modern capitalism owes its roots to him