Economics and Business B. Definition of terms. F-P

1. includes transport facilities, communications, and access to energy and water (14)
4. is one where there is no interference from outside agencies , such as the government. (4, 6, 7)
5. a long term rental agreement that allows businesses to use assets without having to pay for them outright., thereby freeing up funds for other uses. often used for vehicles, machinery etc (7)
10. means there is no excess supply and no excess demand (6, 8)

2. this occurs when social costs are greater than private costs because of negative externalities (4, 11)
3. a sustained rise in the general price level or a fall in the value of money (9)
6. are the forces of demands and supply as they operate freely and interact to determine the allocation of resources (6, 6)
7. a small part of the total market that has certain specific or special characteristics (5, 6)
8. any medium in which buyers and sellers interact and agree to trade at a price. (6)
9. the use of someone else's money for a period of time. Usually involves regular payments and the payment of interest. (4)

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