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Economics ILT 10/19/2018

a business owned by shareholders, also called stockholders, who own the rights to the company’s profits but face only limited liability for the company’s debts and losses
states that when the price of a good or service goes down, quantity demanded increases, and when the prices go up, quantity demanded falls
the reduction or elimination of government oversight and control of business
the price at which demand equals supply
the market value of all final goods and services produced within a nation in a given time period
a business owned and controlled by one person
unemployment caused by the part of the business cycle with decreased economic activity
a measure of changes in the prices of goods and services that consumers commonly purchase
an established maximum price that sellers may charge for a product
a sustained rise in the general price level, or a sustained fall in the purchasing power of money
a situation in which demand is greater than supply, usually the result of prices being set too low
a situation in which the quantity supplied and the quantity demanded at a particular price are equal
an increase in a nation’s real gross domestic product
a business co-owned by two or more people, or “partners,” who agree on how responsibilities, profits, and losses should be divided
A sustained rise in the general price level
the temporary unemployment of workers moving from one job to another
an established minimum price that buyers must pay for a product
the use of income today in a way that allows for a future benefit
a situation in which supply is greater than demand, usually the result of prices being set too high