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The Economic System Chapter 17

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