Economics Terms Final Review Crossword

a defined contribution plan where an employee can make contributions from his or her paycheck either before or after-tax, depending on the options offered in the plan
an estimate of the ability of a person or organization to fulfill their financial commitments, based on previous dealings.
a generalized term for a federal court procedure that helps consumers and businesses get rid of their debts and repay their creditors.
a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.
Annual percentage rate; describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc.
free market-based economic system combined with limited government involvement
economic system that relies on habit, custom, or ritual to decide questions of production and consumption of goods and services
to sell state-run firms to individuals
An economic system in which the central government makes all economic decisions.
economic system in which decisions on production and consumption of goods and services are based on voluntary exchange in markets
all natural resources used to produce goods and services
all natural resources used to produce goods and services
any human-made resource that is used to create other goods and services
the effort that people devote to a task for which they are paid
the skills and knowledge gained by a worker through education and experience
something like air, food, or shelter that is necessary for survival
an item that we desire but that is not essential to survival
Physical objects such as clothes or shoes
Actions or activities that one person performs for another
an alternative that we sacrifice when we make a decision
the act of redirecting resources from being consumed today so that they may create benefits in the future; the use of assets to earn income or profit
a bond issued by the government and sold to the general public.
High-risk, high-yield securities that are low rated.
Bonds issued by state and local governments and used to finance highways and parks.
the system that allows the transfer of money between savers and borrowers
The total value of goods and services produced within the borders of a country during a specific time period, usually one year.
GDP expressed in constant, or unchanging, prices
GDP measured in current prices
the average of all prices in the economy
the annual income earned by U.S. owned firms and U.S. citizens, including from abroad.
An organization of people sharing a common interest or goal that tries to persuade the making of public policy
someone who would not choose to pay for a certain good or service, but who would get the benefits of it anyway if it were provided as a public good
Government programs that protect people experiencing unfavorable economic conditions such as layoffs.
a commitment to the value of work
An expectation that encourages a person to behave a certain way.
a maximum price that can be legally charged for a good or service
a minimum price for a good or service