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Economics ILT 10/19/18

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