Unit 3

• condition in which those seeking jobs are unable to find jobs

• employment

• unemployment

• infliation

• productivity

• the willingness and innovation needed to risk starting a business

• entrepreneurship

• sole proprietorship

• partnership

• corporation

the market value of all goods and services produced in a country during a specific time period

• partnership

• inflation

• Gross Domestic Product

• unemployment

•  a repetitive pattern of growth and decline in economic activity

• partnership

• productivity

• uneployment

• business cycle

•  a business owned and managed by a single individual

• entrepreneurship

• sole proprietorship

• partnership

• corporation

a measure of the efficiency of the production of goods and services

• productivity

• entrepreneurship

• sole proprietorship

• corporation

• a business owned by shareholders and managed by directors and executives

• entrepreneurship

• partnership

• corporation

• inflation

a business owned and managed by two or more individuals as co-owners

• entrepreneurship

• sole proprietorship

• partnership

• corporation

• a general increase in the price of goods and services

• recession

• infliation

• productivity