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is a term that describes a market that has a broad range of competitors who are selling the same products

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a type of imperfect competition such that many producers sell products that are differentiated from one another and hence are not perfect substitutes

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a market that is dominated by only a few large firms.

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A market structure characterized by a single seller, selling a unique product in the market

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a key concept in economics, and has been described as expressing "the basic relationship between scarcity and choice."

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an economic principle referring to a consumer's desire and willingness to pay a price for a specific good or service.

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a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers.

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individuals, consumers or producers change their demand or the amount supplied in response to price or income changes.

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is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed.

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the motivation of firms that operate so as to maximize their profits.

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is the price where the demand for a product or a service is equal to the supply of the product or service.

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Rivalry in which every seller tries to get what other sellers are seeking at the same time: sales, profit, and market share by offering the best practicable combination of price, quality, and service.

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a general increase in prices and fall in the purchasing value of money

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The flow of Goods, Services & Resources.

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is a street in lower Manhattan that is the original home of the New York Stock Exchange and the historic headquarters of the largest U.S. brokerages and investment banks

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an organized association of workers, often in a trade or profession, formed to protect and further their rights and interests

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an economic system in which private business operates in competition and largely free of state control.

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a financial establishment that invests money deposited by customers, pays it out when required, makes loans at interest, and exchanges currency

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a farm, business, or other organization that is owned and run jointly by its members, who share the profits or benefits

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an economic system combining private and public enterprise.

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is a group organized for purposes other than generating profit and in which no part of the organization's income is distributed to its members, directors, or officers.

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a company or group of people authorized to act as a single entity and recognized as such in law

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a capitalistic economic system in which there is free competition and prices are determined by the interaction of supply and demand.

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an economy in which production, investment, prices, and incomes are determined centrally by a government.

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a business or firm owned and run by two or more partners

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an original economic system in which traditions, customs, and beliefs help shape the goods and the services the economy produces, as well as the rules and manner of their distribution

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is the simplest business form under which one can operate a business

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work, especially hard physical work.

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is the central banking system of the United States of America

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the part of the earth's surface that is not covered by water, as opposed to the sea or the air.

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a long and severe recession in an economy or market

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a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.

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a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

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a cycle or series of cycles of economic expansion and contraction.

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is the process by which the monetary authority of a country, typically the central bank or currency board

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wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing.

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is the use of government revenue collection and expenditure to influence the economy

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an index of the variation in prices paid by typical consumers for retail goods and other items.

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the state of being scarce or in short supply; shortage.

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the total value of goods produced and services provided in a country during one year.