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The Economic System Chapter 17

Teacher: Mendenhall / Wills
Across
People will want more of a product when the price is low
People can run a business without government intervention
A business where two or more people share the responsibility
Businesses that make no profit from goods they sell. Example: Charities,churches
People able to buy and sell as they please
Receiving portions of a profit when you have many owners
Money you have left after you pay you expenses
Down
Businesses owned by one person
Companies are free to compete with each other
The only company selling a product
Produce more products when they can sell them at high prices
A business that is recognized by its own legal entity
Decisions by people looking out for their best interests
Not enough resources to meet peoples wants
People have part ownership in a company