Economic Indicators
the number of people over 16 who do not have a job and are actively seeking employment
unemployment
a repetitive pattern of growth and decline in economic activity
business cycle
Owners of sole proprietorships have _____ liability for all debts and liabilities.
unlimited
Primary function of financial institutions
-Safe place to store money
-Provide loans
There are ___ and ___ associated with owning property.
costs
benefits
a rise in the general level of prices in an economy
inflation
Interest Rates
____, ____, and ___ are the 3 major business organizations.
sole proprietorship
partnership
corporation
Process of using deposits to provide loans to others
intermediation
Profit at sale is a ___ associated with property ownership.
benefit
the total amount of sales in stores and online, during a specified period of time
retail sales
The business cycle ranges from __ to ___.
1) expansion
2) recession
a business owned and managed by a single individual
sole proprietorship
Financial institutions provide loans by using whose funds?
depositors'
Upkeep and maintenance are ____ of owning property.
costs
the dollar value of all final goods produced within a nation’s borders during one year
GDP
distinguished by high inflation, low unemployment, increased industrial production and increased sales.
expansionary period
a business owned and managed by two or more individuals as co-owners
partnership
How do households and business earn a return on their savings?
interest
Customization is a ___ of owning property.
benefit
the dollar value of all final goods produced within a nation’s borders during one year, divided by the population
GDP per capita
distinguished by low inflation, high unemployment, decreased industrial production and decreased sales.
recessionary period
a business owned by shareholders and managed by directors and executives
corporation
Financial institutions act as _____ between savers and borrowers
intermediaries
One way that the government restricts the use of private property
-zoning laws
-safety and sanitation codes
-preservation of historic buildings
-noise ordinances