CE 12 Vocabulary

Front

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

Back

Bank

Front

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

Back

Consumer Sovereignty

Front

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

Back

Corporation

Front

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

Back

Credit Union, credit union

Front

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

Back

Demand

Front

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

Back

Circular Flow

Front

What best describes an entrepreneur?

Back

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

Front

The point where supply and demand meet

Back

Equilibrium Price

Front

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

Back

Global, global

Front

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

Back

Partnership