Economics Review

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

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

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

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

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

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

The price paid for borrowing money

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

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

The removal of trade barriers

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

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

The act of setting aside money for future use

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

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

A share of ownership in a company

The exchange of goods and services in a market is

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

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

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

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

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

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

People that make and sell products are called...

A government policy or restriction that limits international trade

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

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

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

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

A tax on imports or exports

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

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

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

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

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

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