In _______ the owner(s) of the business is (are) responsible for all the debts incurred by the business and may have to pay those debts from his/her (their) personal wealth.

In addition to economic dimensions, globalization has ____ and ____ dimensions.

An externality is a cost or benefit created by a transaction that

The economic basis for trade is

The World Trade Organization primarily creates ____ for international trade.

The _______ is (are) responsible for fiscal policy, and the ______ is (are) responsible for monetary policy.

The most important member of the Federal Reserve’s Board of Governors is the

In the circular flow model, businesses

The three basic types of businesses in the United States are

A sole proprietorship is a business form in which