These are natural resources used in production of goods or services.

This is where productive resources are exchanged for money.

This is the part of the business cycle when realGDP stops growing and begins to go down.

This is when a country can produce a product at a lower opportunity cost than another country.

This taxes take more from the poor than the rich.

This is the next best alternative given up when a choice is made.

This refers to the willingness of suppliers to produce and supply more at higher prices.

This formula takes the number of unemployed and divides them by the labor force. Multiply by 100 to get the percentage.

This term refers to a group of countries that have agreed to reduce trade barriers.

This refers to the ability of a person to borrow money.

This is how scarce resources are distributed. Rationing is an example of this process.

This business organization is owned by shareholders.

This is used by the government to change aggregate supply or demand.

This term refers to a limit on the amount of goods that can enter a country.

This interest is charged only on the principle.

This economic system favors equity, security, and stability.

This refers to the lowest possible price that can be given.

This unemployment occurs when the business cycle begins to go down.

This is one nation's currency in terms of another nation's currency.

This is the cost of insurance.

This is the relationship of inputs to outputs.

This market structure has many firms that can control their prices through branding and advertising.

This occurs when realGDP continues to increase over time.

This refers to the exchange of income and payments for imports and exports.

This is a group of stocks or bonds that can reduce the risk of investment.