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1) Market situation in which a single supplier makes up an entire
industry for a good or service that has no close substitutes.
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2) Federal program that provides monthly payments to people who are
retired or unable to work.
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3) Ability of risk-taking individuals to develop new products and
start new businesses in order to make profits.
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4) Value of the next best alternative given up for the alternative
that was chosen.
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5) Stage of negotiation process in which union and management submit
the issues they cannot agree on to a third party for a final
decision.
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6) Court order preventing some activity.
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7) Summation of all of the individual parts in the economy.
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8) Long-distance communication, usually electronic, using communications
satellites and fiber optic cables.
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9) Economic system in which private individuals own the factors of
production.
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10) The ability of any good or service to satisfy consumer wants; the
amount of satisfaction one gets from a good or service.
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11) Movement to educate buyers about the purchases they make and to
demand better and safer products from manufacturers.
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12) Payment people receive when they lend money or allow someone else to
use their money.
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13) Money left after all the costs of production-wages, rents, interest,
and taxes-have been paid.
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14) Previously manufactured goods used to make other goods and services.
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15) Prolonged rise in the general price level of goods and services.
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16) Type of business organization owned by many people but treated by law
as though it were a person; it can own property, pay taxes, make
contracts, etc.
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17) Having a character or capacity fitted to yield a supply of goods
which when marketed at existing price levels will barely cover the
cost of production.
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18) An excess of spending over revenues.
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19) A combination of firms or corporations formed by a legal agreement;
especially, one that reduces or threatens to reduce competition.
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20) Any of various economic and political theories advocating collective
or governmental ownership and administration of the means of
production and distribution of goods.
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21) Of or relating to taxation, public revenue, or public debt.
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22) A rule or order issued by an executive authority or regulatory agency
of a government and having the force of law.
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