Print this quiz and test your knowledge.

1. An economic system in which individuals and firms are free to enter and leave markets at will.________________________

2. The quantity of a product that producers are willing to sell at each of various prices and the quantity of a product that buyers are willing to purchase at each of various prices.________________________

3. The work time or labor that people contribute to the production of goods and services.________________________

4. The gifts of nature, such as water, minerals, land, and timber.________________________

5. Buildings, tools, machinery, and other manufactured items used to produce goods and services.________________________

6. An organization that produces goods and services. Most organizations try to earn a profit.________________________

7. A customer that buys the products or services a business produces.________________________

8. The amount a business earns when the money received from selling its product or service is greater than its cost.________________________

9. A share of ownership in a company. Owners of stock receive part of the company's profits -- or bear some of its losses up to the amount of money they put into stocks.________________________

10. A part or portion owned by a person or group.________________________

11. The people who own a corporation's stock and who thus own the corporation; also called shareholders.________________________

12. A certificate establishing ownership of a stated number of shares in a corporation's stock.________________________

13. A broker who accepts orders to buy and sell stock and then transfers those orders to other people who complete them.________________________

• share
  
• supply and demand
  
• stock certificate
  
• human resources
  
• stockbroker
  
• natural resources
  
• stockholder
  
• capital resources
  
• free market economy
  
• business
  
• profit
  
• consumer
  
• stock