UNIT 4: Vocab - Macroeconomics & Business Foundations

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Across
  1. 2. the study of the whole economy
  2. 5. type of unemployment characterized by being out of work because of a lack of demand or being replaced by machines
  3. 6. legal responsibility of something
  4. 7. phase of the business cycle where there is growth, increasing GDP, and low unemployment
  5. 8. GDP not adjusted for inflation
  6. 9. type of business where two or more people are co-owners and operators
  7. 11. phase of the business cycle that is the height of economic activity
  8. 13. type of unemployment characterized by being between jobs or temporarily unemployed
  9. 14. someone who takes on the responsibility and risk of starting a business with the expectation of making profit
  10. 16. phase of the business cycle where the economy slows down and often leads to a recession
Down
  1. 1. a valuable asset that a borrower pledges to a lender to secure a loan
  2. 3. a corporate strategy where two or more companies combine to create a new legal entity
  3. 4. the value of all real final goods and services produced in a year
  4. 10. GDP adjusted for inflation
  5. 12. type of business where one person is the owner and operator
  6. 15. phase of the business cycle thatis the lowest point of the cycle before recovery