(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.
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The amount of money exchanged for a good or service
Price
another word for INCOME- money that is made from sales
Revenue
Business whereby the owner licenses its operations—along with its products, branding, and knowledge—in exchange for a fee.
Franchise
Amount of a good or service that consumers are willing and able to buy at a certain price
Demand
Earnings after all expenses have been paid
Profit
when there is not enough or too few goods to meet the demand of the consumers.
Shortage
Organization owned and operated by people who use its services; they are
designated as members, or user-owners. Profits and earnings are distributed among the members
Cooperative
People determine through purchases, what goods and services will be produced.
Consumer Sovereignty
When supply is greater than the demand for a product
Surplus
Person who creates economic value, or MAKES goods and provides services
Producer
The economic condition where market demand and market supply are equal to each other
Equilibrium
Person who buys goods or services for their own USE
Consumer
Any place where two or more parties can meet to engage in an economic transaction (buying/selling of goods/services)
Market
The branch of economics that looks at studying the behavior of an individual economic unit such as individual consumers, households, and businesses.
Microeconomics
Person with an interest or concern in something, especially a business. typically include investors, employees, and customers.
Stakeholders
Market structure where there are many producers, Similar products BUT variety is present, little control over price
Monopolistic Competition
Form of a business with two or more owners who share the risks and profit
Partnership
Market structure where there are few producers, High barriers to entry
Oligopoly
Person who takes a risk to produce goods and services in search of profit- they combine the other factors of production
Entrepreneur
Rivalry between producers/sellers of goods or services results in better quality goods and services at a lower price
Market Competition
Unincorporated business with only one owner who pays personal income tax on profits earned.
Sole Proprietor
Market Structure where there are Many producers, competition is high, but there are no/ few barriers to enter
Perfect Competition
How much of the product is available for purchase at a given price by a business or supplier.
Supply
Market Structure where there are high barriers to enter, but total control over price because there is only one producer
Monopoly
A type of business owned by many people but treated by law as though it were a person.
Corporation
Things that change economic behavior and choices
Incentives
