Introduction to Economics Matching 

Match the terms with their definitions. 

Name ____________________________

Date _____________________________

A group of people who are legally authorized to form a single entity or business.  

Actions that promote the standard of living and economic health of a specific area.  

A disagreement between entities or individuals and how resources will be used.   

The right to take economic liberties and actions without unreasonable governmental interference.  

The individuals who make up the work or labor force of an organization. 

The average income per person in a certain area.  

Money that is made after subtracting the cost of doing business, taxes, and other expenses.  

Money that is made before subtracting the cost of doing business, taxes, and other expenses.  

People who do not have jobs and are actively seeking employment.  

Where work is done by an employee in exchange for pay.  

A person or organization that hires and pays people to do work.  

A political system where all property and wealth are shared equally by all of the members of that society.  

A political system where the government provides goods and services for everyone in that country.  

A person who undertakes financial risk to start a business for profit.  

a. economic freedom  

b. net income 

c. entrepreneur  

d. corporation 

e. employment 

f. socialism

g. economic development 

h. gross income 

i. communism 

j. economic dispute 

k. employer 

l. unemployment 

m.  human resources 

n. per capita income 

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14. ____