Economics Review

People or businesses that buy or consume products are called...

The practical application of knowledge to accomplish a task using electronics...

The total value of all goods and services produced in a country in a year is...

The study of how people meet their wants and needs is called...

A country with a less-productive economy and lower standard of living like Haiti is a ...

The money a company has left after subtracting the cost of doing business...

An economy in which people make economic decisions based on their customs and habits...

An economy that combines two or more types of economy...

Having a limited quantity of resources to meet unlimited wants is called...

The struggle among producers for consumers' money  is called...

People that make and sell products are called...

An agreement in which a buyer can borrow money to purchase something and pay it back over time

The price paid for borrowing money

A plan that shows income and expenses over a period of time

A factor that encourages people to act in a certain way is called...

The exchange of goods and services in a market is

An economy in which individual consumers and producers make economic decisions...

The general increase in the prices of goods and services is called...

The act of concentrating on a limited number of goods or activities is...

Goods and services produced within a country and sold OUTSIDE it's country's borders

An organized way for producers and consumers to trade goods and services...

A decline in economic growth for 6 or more months in a row is called a ...

The act of setting aside money for future use

An economy  in which the central government makes all economic decisions...

Increasing the amount of goods and services produced given the amount of resources used is...

A certificate issued by a company or government entity promising to pay back borrowed money

The desire for a certain good or service is...

Economic growth or an increase in living standards is called...

The removal of trade barriers

A government policy or restriction that limits international trade

The amount of a good or service that is available for use...

A country with a strong economy and a high standard of living, like the US, is considered a...

A share of ownership in a company

A tax on imports or exports

Goods and services sold in a country that have been produced in other countries

The cost of what you have to give up to get what you want most is...