section 1.2 Flashcards
0
Q
the value of all goods and services produced within a country
A
GDP gross domestic product
1
Q
the study of the choices and decisions that affect making, distributing, and using goods and services
A
economics
2
Q
the money left after all cost and expenses of a business are paid
A
profit
3
Q
as a characteristic of free enterprise, the struggle among companies for customers
A
competition
4
Q
change in price affects demand
A
demand elasticity
5
Q
legal protection of a creator’a intellectual property or products
A
copyright
