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Chapter 6

Sam Santana

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1.value of the next best use of resources when a choice is made
4.average price of basic necessities
5.tangible items that peopel buy and use, such as cars, pencils, shoes, and food
8.people who make goods and provide services
12.measure of the U.S. economy's general health
13.range of economic activity in a country
16.type of economy in which buyers and sellers determine prices with limited government interference
17.percentage figure representing the number of people who don't currently have jobs and are looking for work
18.things need to produce goods and services, including natural resources, capital/machinery, labor, and entrepenurship
20.people who buy and use goods and services
24.general period of sustained growth
26.interest rate banks charge their most credit-worthy customers
28.work products people buy, such as haircuts
29.complete control bu one company of the means of producing or selling a product or service
2.number that idetiflies the monthly price changfe in about 400 selected goods and services
3.current value in dollars of all goods and service produces in a country for one year
7.science that deals witht he wats in which goods and services are produced, transported, sold, and used
9.degree of confidence, or trust the people feel in the economy in general
10.people who organize and run a business and take on the risks involved
11.pattern of alternating periods of economic growth and decline
14.deep decline in the nation's economy
15.government plan for controlling the amount of money in the overall economy
19.amount of a particular good or service that producers are willing to provide at a given price
21.basic economic problem
22.slowdown in exonomic activity and growth
23.rise in the general level of prices
25.money from a business activity, sale, or investments that remains after expenses have been paid
27.desire and ability to purchase a product or service

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