Vocabulary Crossword Puzzle: Economicsfinal - Crossword Puzzles "economicsfinal" made with our Free Crossword Puzzle Maker

Economicsfinal Crossword

Down: 1) a level of production in which the marginal product of labor decreases as the number of worker increases 2) the change in output from hiring one additional unit of labor 3) partnership in which all partners are limited partners 4) a certificate of ownership in a corporation 5) limited quantities of resources to meet unlimited wants 8) the rivalry among sellers to attract customers while lowering costs 9) a group of three respected economists that advice the President on economic policy 10) a table that lists the quantity of a good a person will buy at each price 11) a political system characterized by a centrally planned economy with all economic and political power resting in the hands of the central government 12) a market structure in which a large number of firms all produce the same product 15) when quantity demanded is more than quantity supplied 16) person or institution to whom money is owed 17) situation in which quantity is greater than quantity supplied; also known as excess demand 19) division of customers into groups based on how much they will pay for a good 20) a tax on the dollar value of a good or service being sold 21) corporation that issues stock to only a few people, often family members 23) bank that belongs to the Federal Reserve System 24) a market dominated by a single seller 25) theory that too much money in economy causes inflation 27) costs of production that affect people who have no control over how much of a good is produced 28) partnership in which only one partner is required to be a general partner 29) a tax for which the percentage of income paid in taxes decreases as income increases 30) actions or activities that one person performs for another 31) the use of government spending and revenue collection to influence the economy 33) a cost that does not change, no matter how much of a god is produced 34) a person who wants a job but has given up looking 36) using resources in such a way to maximize the production of goods and services 41) an agreement among firms to divide a market, set prices, or limit production 43) money that has value because the government has ordered that it is an acceptable means to pay debts 45) the lowest point in an economic contraction, when real GDP stops falling 48) a general increase in prices 49) situation in which quantity supplied is greater than quantity demanded; also known as excess supply 51) income received by a government from taxes and nontax sources 52) an arrangement that allows buyers and sellers to exchange things Specialization: the concentration of the productive efforts of individuals and firms on a limited number of activates

Across: 6) laws that encourage competition in the marketplace 7) entitlement program that benefits low-income families, some people with disabilities, elderly people in nursing homes 13) a tax on the value of a property 14) a minimum price for a good or service 18) a business organization owned by 2 or more people who agree on a specific division of profits and responsibilities 22) a period of macroeconomic expansion followed by a period of contraction 26) an institution for receiving, keeping, and lending money 32) the concept that everyone can compete in the marketplace 35) height of an economic expansion when real GDP stops 37) a government issued right to operate a business 38) law that states that as we shift factors of production from making one good or service to another, the cost of producing the second item increases 39) a license that gives the inventor of a product the exclusive rights for a certain period of time 40) an organization that uses resources to produce a product, which it then sells 41) government agency that provides economic data to Congress 42) describes demand that is not very sensitive to a change in price 44) a card used to withdraw money 46) like a cartel, an illegal group of companies that discourages competition 47) period of change in which an economy moves away from a centrally planned economy toward a market-based system 50) a national health insurance program that helps pay for health care for people over 65 or with certain disabilities 53) something that keeps its value if it is store rather than used 54) anything that servers as a medium of exchange, a unit of account, and a store of value 55) an alternative that we sacrifice when we make a decision 56) tax on imported goods 57) ability to be used as, or directly converted to, cash 58) property owned by individuals or companies, not by the government or people as a whole 59) the love of one’s country; the passion that inspires a person to serve his or her country 60) widespread panic in which great number of people try to redeem their paper money 61) formal contract to repay borrowed money at a fixed intervals

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