Econ vocab

The equipment that is used for making goods

• Perfect competition

• Capital

• Traditional economy

• Federal debt

Businesses run by an individual who has the rights to all the money they make and all of the liability of the business or small business

• Sole proprietorship

• Monopoly

• Perfect competition

• Investment clubs

Trading and bartering

• Federal deficit

• Oligopoly

• Traditional economy

Anyone can buy and sells whatever goods they want

• Market economy

• Perfect competition

• Currency

An economy created by a single owner

• Bank

• Oligopoly

• Monopoly

An economy where a few large sellers are on top and outsell the competition

• Monopoly

• Oligopoly

• Federal deficit

When the entire economy is just competition and nothing else

• Monopolistic competition

• Federal debt

• Perfect competition

Where all businesses share each others products and are willing to share the cost

• Monetary policy

• Perfect competition

• Federal gain

A yearly debt

• Federal loss

• Federal deficit

• Federal debt

Accumulation of all deficit (bigger)

• Market economy

• Investments

• Federal debt