A/An___________ is a new business undertaking that involves risk

____________is the study of how people choose to allocate scarce resources to fulfill their unlimited wants.

In a/an__________, people have an important right to make economic choices.

___________is money left after all expenses of running a business have been deducted from the income.

________ competition is a market structure in which there are numerous buyers and sellers, and no single buyer or seller can affect price.

A__________is a basic requirement for survival.

The resources businesses use to produce the goods and services people want are called__________.

In a free enterprise system, the price of a product is determined in the _____________.

____________ is the total market value of goods and services produced by workers and capital within a country during a given period.

The entrepreneur is the driving force of the_________________process.

Studies by the Small Business Administration report that _____ percent of new businesses survive the first two years

A/An________________is a business that has stopped operating with a loss to creditors.

A ____________ is a business that may be operating under a new name

________ occurs when demand exceeds supply