1. Match the following terms to the definition that best describes the term. The answer is provided for the first item to show you how to format your answer (simply provide the letter to the left of the term).

___Business ___ Profit ___ Not-for-profit ___ Management ___ Marketing ___ Accountant ___ Finance ___ Gross Domestic Product (GDP) ___ Recession ___ Unemployment rate ___ Communism ___ Socialism ___ Free market system ___ Capitalism

(a) Organization that has a purpose other than returning profits to owners.

(b) Economic slowdown measured by a decline in gross domestic productivity.

(c) Activity that provides goods or services to consumers for the purpose of making a profit.

(d) Process of planning for, organizing, directing, and controlling a companys resources so that it can achieve its goals.

e) Measure of the market value of all goods and services produced by a nations economy in a given year.

(f) Financial advisor responsible for measuring, summarizing, and communicating financial and managerial information.

(g) Percentage of the total labor force thats currently unemployed and actively seeking work.

(h) The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

(i) Difference between the revenue that a company brings in from selling goods and services and the costs of generating this revenue.

(j) Activities involved in planning for, obtaining, and managing a companys funds.

(k) Economic system in which most businesses are owned and operated by individuals.

(l) Economic system featuring the highest level of government control over allocation and distribution.

(m) Economic system featuring the lowest level of government control over allocation and distribution.

(n) Economic system falling between communism and capitalism in terms of government control over allocation and distribution.