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Person who organizes , manages, and assumes the risks of a business.

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All human efforts, skills, and abilities used to produce goods and services.

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Manufactured goods used to make other goods and services.

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Can be found on or in Earth or in Earth's atmosphere.

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Include charities, scientific research associations, and organizations dedicated to cultural and educational programs.

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Corporate profits paid to stockholders

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People who buy corporate stocks.

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Shares of ownership.

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Type of business that is recognized as a separate rate legal entity.

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A business in which two or more people share the responsibilities, cost, profits and losses.

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A small business owned by one person.

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The only one selling the product or providing a service.

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An economic system in which the productive resources.

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Business owners may operate however they see fit, with little direction or interference by government.

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States that buyers will demand, or want, a greater quantity of a good when its price is low.

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States that businesses will produce more products when they sell them at higher prices.

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Combination of limited economic resources and society's unlimited wants.

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The right to buy and sell goods as you want.

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One in which economic decisions are made by individuals looking out for their families best interest.

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Amount of goods and services the economy creates.

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-Land
-Labor
-Capital
-Entrepreneurship

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-What should we produce?
-How should we produce it?
- For whom should we produce it?

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Things people desire but do not need, likes luxury goods, concert tickets, a meal at a restaurant.

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Necessities like food,shelter, and health care.

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Social science that studies the choices of producers and consumers as they try to satisfy unlimited wants and needs with limited resources.