Economics Crossword

2. Economic system where two forces, known as supply and demand, direct the production of goods and services.
5. Overall state of the economy as it goes through four stages in a cyclical pattern.
7. An increase in the general level of prices in the economy.
8. The loss of other alternatives when one alternative is chosen.
11. Small additional adjustments of an action plan.
14. The quality of being fair, impartial or fairness.
15. Sane, able to think or speak clearly and logically.

1. Science that deals with the production, distribution, and use of goods and services, or human welfare.
3. State or quality of being efficient; competency in performance.
4. Quantity of goods and services produced by each unit of work.
6. Define the theoretical and legal ownership of resources and how they can be used.
9. Something that induces people to act.
10. Situation defined by an inefficient distribution of goods and services in the free market.
11. ability of a firm to influence the price at which it sells a product or service by manipulating either the supply or demand of the product or service to increase economic profit.
12. Harm or benefit experienced by an individual or a company due to actions carried out by other persons or entities.
13. Limited nature of society's resources.