Match each term with the correct statement below.
a. microeconomics
b. profit
c. business
d. capitalism
e. macroeconomics
f. purchasing power parity
g. planned economy
h. capital resources
1. The exchange of goods, services, or money for mutual benefit or profit
2. The difference between revenue and all costs
3. Economics from the viewpoint of individuals and firms
4. The study of economics focusing on the aggregate relationships in society
5. Goods produced to make other types of goods and services
6. The government produces almost all the goods and services
7. An economic system based on private ownership of property
8. The comparison of a market basket of goods in one country to the same basket in another country
1. C) business
2. B) profit
3. A) microeconomics
4. E) macroeconomics
5. H) capital resources
6. G) planned economy
7. D) capitalism
8. F) purchasing power parity
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