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Ms. Campbell

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3.The exchange of goods and services between countries.
6.Economic problem that results from limited resources and people's unlimited wants. Not having enough resources.
10.The basic thing that people need in order to survive, such as food, shelter, and clothing.
11.Tariffs, quotas, and protectionist.
15.The production, distribution, and consumption of goods and services.(how individuals balance wants and needs w/scarce resources.
19.Rise in the general level of prices.
20.the extent to which persons/organizations are better off at the end of a period as compared to the beginning.The bottom line for all business.
22.Market classification according to number and size of firm, type of product, and type of competition.
23.Unincorporated business owned and run by a single person who has all the rights to profit and unlimited liability for all aspects of the business. Most common form of business in USA.
24.Privately owned, publicly controlled central bank of the USA.
25.A form of competition where just a few sellers dominate the market.
1.Natural resources such as water, air, and soil that are used in the creation of products .
2.Workers unable to perform certain tasks.
4.Decline in real GDP lasting at least 2 business quarters.
5.Money, tools, equipment, buildings, used in the production of goods and services.
7.The physical and mental contribution of human efforts and abilities used in production.
8.Things that we desire to have.
9.A country's ability to produce more of a give product than can another country.
12.A business organization recognized by law as a seperate legal entity w/ all rights to buy/sell property, enter into legal contracts, and sue and be sued.
13.Graph illustrating the quantity demand at each and every possible price that might prevail in a market at a given time.
14.A market in which there is only 1 seller for a product
16.Graph illustrating the amount of a product that will be supplied at possible prices.
17.Risk taking individiual such as corporate officers and shop owners who combine factors of production to make a profit.
18.A business owned and run by 2 or more people w/unlimoited liability.
21.State of economy with large numbers of unemployment, declining incomes, overcapacity in manufacturing plants, and a general economic hardship

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