Q1 Economics Word Wall

2. The point at which the supply of a good or service is equal to the demand of that good or service
3. Scenario in which consumers want more a of good or service than producers are willing to make available at a particular price
7. A legal entity in which the owners have limited liability
8. Those who purchase and utilize finished goods and services
11. A market structure in which a single seller dominates
12. A certificate of ownership in a corporation
13. Those responsible for the activities which transform resources into finished goods and services
14. An economic system in which individual people and companies own and control property and make economic decisions
15. The amount of a good or service that is available
16. Scenario is which producers want to make more of a good or service available than consumers want to buy at a particular price
17. The scenario of limited resources to satisfy unlimited wants

1. The measure in which supply and demand react to changes in price
2. A person who organizes and operates a business or businesses, taking on greater than normal financial risks to do so
4. A market structure with-in which a few large sellers dominate
5. The value of what you have to give up in order to choose something else
6. The desire to own something and the ability to pay for it
9. Any arrangement that allows buyers and sellers to exchange goods and services
10. Cost The value of the next highest-valued alternative use of a resource
11. The impact of one additional unit
14. Man made factor of production