CE 12 Vocabulary

A business or organization that takes in deposits of money, and uses that money to make loans-

• Bank

• Credit Union

• Financial Institutions

• Corporation

Consumers determine through purchases what goods and services will be produced.

• Consumer Sovereignty

• Financial Capital

• Supply

• Free Enterprise

Business organization that is authorized by law to act as a legal entity regardless of the number of owners.

• Entrepreneur

• Proprietorship

• Corporation

• Partnership

A type of bank open only to members of a sponsoring group, such as an employer.

The amount of a good or service that consumers are willing and able to buy at different prices

A way of visualizing and categorizing activity within an economy that shows the continuous flow goods, services, resources, and money

• Supply

• Circular Flow

• Equilibrium price

• Demand

What best describes an entrepreneur?

• Business organization that is authorized by law to act as a legal entity regardless of the number of owners.

• A business organization with two owners

• A person who takes a risk to produce and sell goods and services in search of profit

• A business that you can invest in

The point where supply and demand meet-

• Financial capital

• Equilibrium Price

• Quantity supplied

• Laffer curve

______________ Economy: Worldwide markets in which the buying and selling of goods and services by all individuals, nations, and businesses takes place

Business organization with two or more owners who share the risks and the profits.