CE 12 Vocabulary

The point where supply and demand meet-

• Financial capital

• Equilibrium Price

• Quantity supplied

• Laffer curve

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

Business organization with one owner who takes all the risks and all the profits.

• Entrepreneur

• Corporation

• Partnership

• Proprietorship

The amount of a good or service that producers are willing and able to offer for sale at each possible price

• Quantity

• Supply

• Equilibrium

• Demand

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

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

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

What are the two main jobs of financial institutions?

• Accept deposits and offer loans

• print money

• give atm cards and credit cards

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

• Entrepreneur

• Proprietorship

• Corporation

• Partnership

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