2 pt 3 pt 4 pt 5pt 1 pt 2 pt 3 pt 4 pt 5 pt 1 pt 2pt 3 pt 4pt 5 pt 1pt 2pt 3 pt 4 pt 5 pt 1 pt 2 pt 3 pt 4pt 5 pt 1pt FillInTheBlanks!!!!

To announce or praise a product or service in some public medium to induce people to buy it or use it is called ________________.

To announce or praise a product or service in some public medium to induce people to buy it or use it is called ___advertising__.

Contest between companies to win more business is called _______________.

Contest between companies to win more business is called __competition____.

One who buys or uses goods or services is called a __________________

One who buys or uses goods or services is called a ___consumer____

The sole legal right to sell a good (sometimes literary, musical or artistic) is called _____________________.

The sole legal right to sell a good (sometimes literary, musical or artistic) is called _____copyright______.

The number of consumers who want and are able to buy a product causes the _____________ for that product.

The number of consumers who want and are able to buy a product causes the ___demand___ for that product.

Goods, services and assets sold to other countries are called _______________.

Goods, services and assets sold to other countries are called ____exports____.

System where people can own and run their own businesses is called ______________

System where people can own and run their own businesses is called free market system or free enterprise system.

All natural resources used in manufacturing are called __________.

All natural resources used in manufacturing are called ___land__.

All human resources—or the workers are called _____________.

All human resources—or the workers are called ___labor___.

All man-made aids to production (machinery, equipment, money, etc. are called ____________.

All man-made aids to production (machinery, equipment, money, etc. are called ___capital___.

A profit-seeking decision- maker who determines the course a company will take is called an ______________.

A profit-seeking decision- maker who determines the course a company will take is called an ___entrepreneur___.

Goods, services and assets sold to other countries are called ___________.

Goods, services and assets sold to other countries are called __imports___.

Payments received by households and businesses during a time period that may be spent or saved is called __________.

Payments received by households and businesses during a time period that may be spent or saved is called __income__.

Needing other countries to meet the needs and wants of its people is called _______________.

Needing other countries to meet the needs and wants of its people is called ____interdependence___.

Making large amounts of goods is called _________________.

Making large amounts of goods is called ___manufacturing___.

The exchange of goods, services and resources between buyers and sellers is called the ____________.

The exchange of goods, services and resources between buyers and sellers is called the ___market___.

What you give up when you make a decision (the second best choice) is called the ___________ _________

What you give up when you make a decision (the second best choice) is called the __opportunity__ __cost__

The total revenue of a company minus the total cost of production is called the ____________.

The total revenue of a company minus the total cost of production is called the ___profit__.

One who makes goods using the factors of production is called a _____________.

One who makes goods using the factors of production is called a ___producer___.

The concept of many individuals desiring something, but there is limited availability is called ______________

The concept of many individuals desiring something, but there is limited availability is called ___scarcity____

Producing only a few products instead of many different products is called _________________.

Producing only a few products instead of many different products is called ___specialization____.

The amount of items produced for sale is called the __________

The amount of items produced for sale is called the __supply__

The amount of mental or physical effort to produce a good or a service is called _________.

The amount of mental or physical effort to produce a good or a service is called __work__.

Payment for labor is called _________

Payment for labor is called __wages__

A certificate of ownership in a company is called a _____________.

A certificate of ownership in a company is called a __stock__.