Economics vocabulary MODIFIED Crossword
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
 
 
Down: 2) What to produce? How to produce? For whom to produce?3) Exporting more than is imported.4) a market structure in which a large number of firms all produce the same product5) Government policy that attempts to manage the economy by controlling taxing and spending.6) a market structure in which many firms sell products that are similar but not identical7) secret agreement or cooperation8) the process by which businesses or other organizations develop international influence or start operating on an international scale.10) An economy in which private enterprise exists in combination with government regulation11) anything that serves as a medium of exchange, a unit of account, and a store of value12) a business owned and managed by a single individual15) the difference between a lower selling price and a higher purchase price resulting in a financial loss to the seller16) Inverse relationship between price and quantity demanded; (if price increases, QD decreases and vice versa)24) A government tax on imports or exports25) Idea that an initial change in spending will set off a spending chain that is magnified in the economy. Strength depends on amount consumers spend at the new income.29) a political & economic theory of social organization that advocates, the means of production, distribution, & exchange should be owned/regulated by the whole community.31) a person who receives the benefit of a good but avoids paying for it34) the struggle among producers for the dollars of consumers38) an estimate of income and expenditure for a set period of time.40) a sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.43) a formal organization of producers that agree to coordinate prices and production Across: 1) Decreasing satisfaction or usefulness as additional units of a product are acquired9) Federal Reserve system actions to increase the money supply, lower interest rates and expand real GDP (during an economic downturn)13) A market structure in which a few large firms dominate a market14) level of demand fluctuate with income; increase in wages equals an increase in demand for goods, and a decrease in wages equal a decrease in demand for goods.17) the Federal Reserve's policy of increasing interest rates to reduce inflation (during economic growth)18) a steady drop or stagnation in the stock market over a period of time19) A market in which there are many buyers but only one seller.20) An economic system in which the government controls a country's economy.21) The study of how people seek to satisfy their needs and unlimited wants by making choices22) a charge, usually money, imposed by government on persons or property for public purposes.23) unlimited wants but limited resources26) A short-term lack of a product or resource27) Direct relationship between price and quantity supplied (if price increases, QD increases, and vice versa)28) The *one* best option given up when you make a choice including money, time, and forgone opportunity30) a general increase in prices and fall in the purchasing value of money.32) the market structure that exists when there are many firms selling one standardized product33) A share of ownership in a corporation.35) unemployment that occurs as a result of harvest schedules or vacations, or when industries slow or shut down for a season Ex: summer jobs36) Theory stating that government spending should increase during business slumps and be curbed during booms.37) A business in which two or more persons combine their assets and skills39) deciding whether to do or use one additional unit of some resource41) Exporting less than is imported (aka Trade Gap)42) Changes in the structure of the labor force making some skills obsolete. Workers DO NOT have transferable skills and the jobs won't come back.44) A business that is owned by many investors.45) by-products of production or consumption that impose costs on third parties Ex: CO2 emissions by a factory46) The sum of government deficits over time.47) All possible options given up when you make a choice48) 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
 

 

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