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Chapter 1: Economic Basics

Teacher: Ms Dent
Across
As price decreases, demand increases.
As price increases , supply increases
This type of store sells products to consumers.
Location where producers and consumers meet.
Businesses that are owned by the government.
Patron of a particular store.
When consumers have the power to decide where and what to buy.
Quantity of goods businesses are willing to produce.
Businesses that 500 or less employees.
Salon, lawn maintenance a house cleaning are examples of this type of business.
The goal of this business type is to raise funds for a specific cause.
Items necessary for survival
Quantity of goods consumers are willing and able to buy.
Down
Typewriters, floppy disc and milk men are examples.
When businesses are in control of the market.
Items that add pleasure to our lives, but not necessary.
Type of business that uses raw materials or components to make a finished product.
When two or more businesses try to sell the same type of product.
People who buy products.
Makes a product.