1.
is calculated as the rate of change in prices over a period of time, usually monthly or yearly, and is expressed as a percent
2.
represents the cost of a loan and is expressed as the percent of an amount borrowed
3.
refers to the financial well being of the average person in a country
4.
refers to all the people in the nation who are capable of working and want to work
5.
is a period of significant decline in the total output, income, employment and trade in an economy.
6.
the highest point in the business cycle and marks the end of expansion
7.
the unemployment rate is the percentage of the civilian labor force that is unemployed
8.
when two or more businesses work together to remove their competition, set prices, and control distribution
9.
is how a market is organized based on the number of businesses competing for sales in an industry
10.
is something that is not directly connected to an economic activity but that affects people
11.
is the total amount of money circulating at any one time in a country
12.
is when a lower price is the main reason for customers to buy from one business to another.
13.
is when the strategy other than price is used to attract customers.
14.
is a market structure with one business that has complete control of a market’s entire supply of a product
15.
is characterized by a large number of businesses selling the same product at the same prices
