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1.The effort a worker makes on a task for which he expects to be paid. 2.A basic component of the consumer sector consisting of all those persons living in a house, condo, or living alone. 3.The amount of money left to a producer or seller after he has removed all his/her costs from the revenue received on the sale of the product. 4.The person buying a product. 5.The reward for entrepreneurship. 6.Communism is an example of what kind of an economy? 7.Communism is the vision of what famous economist and writer? 8.A place where buyers and sellers meet to exchange goods and services for money is called: 9.An economic system that relies on private ownership of the means of production and the allocation of resources left to pure market forces. 10.Laissez-faire capitalism was first proposed by what noted economist who wrote, "The Wealth of Nations". 11.In the pure form of laissez-faire capitalism, the government’s role in the economy is to be: 12.“Let-it-be” capitalism is also called: 13.Importantly, in the free market system in place today in the U.S. the government takes what kind of involvement In the economy? 14.When did he Great Depression occur in the U.S.? 15.The government's revised role in the 1930’s to “prime the pump” to create jobs and spur economic growth is an example of what kind of economics? 16.The program called “The New Deal” in the 1930s was a part of what president's plan to help the U.S. recover from the Great Depression? 17.The FDIC basically insures bank deposits to what amount? 18.The branch of economics that studies the interactions of individual consumers, businesses, and industries in the market place. 19.The amount charged by a supplier of a good or service. 20.The amount a supplier had to pay to make a good or service. 21.The Supply Line in a typical Supply Demand Graph slopes. 22.Governments often place this into effect to control price increases it deems have risen too quickly or rapidly. 23.An economic entity in and of itself and which is also owned by its shareholders. 24.A business organization which is owned and operated by a single person. 25.One serious problem with this type of business organization is that the owners sometimes tend to disagree, and then are inclined to separate.

Public Comments

  1. Hi, Edwin. In the time that you last posted your question, you could have gone to Wikipedia and found most of the answers. This is what I would do to answer your questions because I don't study economics. Yes, I recognize your questions as being related to economics. They say that Wikipedia use should be a cautious use, but usually the information is there. 1. Labor 3. Profit 4. Consumer Are you sure you can't find these in the glossary of a textbook or YOUR textbook?
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