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Economics Vocabulary Review

WORD LIST:
Economy in which government controls ALL
Rivalry among sellers to win consumers
Customer; buyer of goods & services
Large business with many owners
Person who starts & runs a new business
Economic forces balanced; supply & demand meet
Economy with NO government control
A product that is used, bought, sold
Something (like a sale or coupon) used to motivate consumers
Place where buyers and sellers meet
Economy that is a mix command and free
Business owned by 2 or more people
Money exchanged for goods and services
Money made after debt is paid
Business owned by 1 person
Part of economy controlled by the government
Inability to satisfy all wants
Actions in exchange for $$$
Freedom to make decisions
Economy in which children have the same job as parents