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Principles of Business Unit A


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4.Period in the business cycle when production starts to increase, people go back to work, and spending increases
9.Resource that includes items that come from the air, water, or earth
11.Anything people can use to make or obtain what they need or want
12.Type of business in which the right to sell a parent company's goods/services within a specified territory are purchased
16.Basic economic decisions that are based on the actions of individual people and businesses participating in different markets
18.Economic system in which people do things the way they have always been done.
19.Your role when your purchase goods/services
20.Organization owned by many people but treated by the law as in one person owned it
22.The number of goods/services produced during a certain period of time.
25.Biggest portion of consumer income is spent on this.
26.Aims or objectives
27.Economic sytem in which the government makes all the decisions regarding which goods/services to produce, how they will be produced, and how the goods/services will be distributed
28.Part of the business cycle characterized by high unemployment and low productivity
29.Business owned by one person
30.Goal that can be achieved within a few weeks to a few months
31.Type of resource that includes all items other than natural resources that are used to produce goods and services
1.Business that provides goods/services directly to the consumer
2.goals that take longer than a year to achieve
3.Resource that describes the people who contribute the physical and mental energy to the production of goods/services
5.Your role when you vote, pay taxes, and obey the law
6.Economic system in which the government owns major industries but allows for private ownership of businesses
7.business that moves goods from one business to another, also called an intermediary
8.Things that you prize and think are important, your beliefs and principles
10.Period in the business cycle when spending decreases and the unemployment rate increases
13.turn raw or processed goods into finished goods
14.Business that does not provide tangible goods to consumers
15.Business owned by two or more people
17.type of resource that combines natural, human, and capital resources to produce goods/services
21.goals that can be achieved within one year
23.Period in the business cycle characterized by low unemployment, high production, and opening of new businesses
24.Business that distributes goods from one business to another. Buys in large quantities and sells in smaller quantities
26.Items that satisfy the need for wants/needs. They can be physically weighted and measured.

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