Adam Smith Economics

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Across
  1. 3. Combines specialization and dividing a complex production task into sub-tasks
  2. 5. intervals of expansion followed by recession or contractions in economic activity over time
  3. 7. The number of goods and services suppliers produce and sell at a given price
  4. 9. Describes free market capitalism that opposes government intervention
  5. 10. As prices rise, quantity decreases
  6. 12. How much output can be produced with a given set of inputs
Down
  1. 1. As prices rise, quantity increases
  2. 2. The process of focusing one's occupational concentration on a specific area of expertise
  3. 4. The supply of goods match the demands
  4. 6. Self-interested individuals operate interdependently of each other
  5. 8. This occurs when companies sell identical products at a fixed price
  6. 11. The amount of money required to acquire a product