Unit 8 Foundations of Economics Vocabulary Assignment Part 1

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Across
  1. 8. taking a financial risk by starting a new business
  2. 9. a company’s earnings after all of its expenses have been paid.
  3. 12. Worldwide markets in which the buying and selling of goods and services by all individuals, nations, and businesses takes place
  4. 13. when the wants and needs of consumers dictate what products are made
  5. 14. a form of business that legally acts as a single business entity, sharing ownership and profits, but with some financial protection for shareholders
  6. 16. to purchase goods or services from another country
  7. 17. to sell goods or services to another country
Down
  1. 1. Personally owned property defined and protected by the government
  2. 2. the using of goods or services
  3. 3. picking an item or an action from possible alternatives
  4. 4. what you give up when you make a choice
  5. 5. rivalry among sellers that keeps prices low and quality high for consumers
  6. 6. a person who thinks of an idea for a new product or business and then works to build that business
  7. 7. an economic system that operates without undue interference from the government
  8. 9. the combining of resources to make goods or provide services
  9. 10. the inability to satisfy all wants at the same time due to limited resources and goods
  10. 11. form of business with one owner who takes all the risks and all the profits
  11. 15. the amount paid for an item or service