AP Economics
Across
- 2. An economic system combining private and public enterprise
- 3. All the income produced by a particular source
- 6. Cost that do change
- 7. The opportunity costs
- 8. Two goods usually purchased together
- 15. Minimum price that can be charged
- 17. States that price and quantity supplied have a direct relationship
- 18. Revenue
- 19. Desire and willingness to purchase a good or service
- 20. Amount buyer pays
- 21. A curve depicting all maximum output possibilities for two or more goods given a set of inputs
- 23. The amount above the actual price of a commodity a purchaser would pay in order not to go without the commodity
- 25. Quantity is insensitive to a change in price
- 26. Quantity is sensitive to a change in price
- 27. A state in which opposing forces or influences are balanced
- 28. A per unit tax on producers
- 29. As you produce more of any good
- 30. Shows how sensitive quantity is to a change in price
- 31. The difference between the amount the producer is willing to supply goods for and the actual amount received by him when he makes the trade
- 32. Out of pocket costs of decision making
- 35. Additional
- 36. Statements based on opinions
- 39. Wealth used in the process of production
- 40. States that price and quantity demanded have an inverse relationship
- 41. A method of production where a business or area focuses on the production of a limited scope of products or services
- 42. Any skills or knowledge gained by a worker
- 43. The resources or factors of production used in the production of a firm's output
- 44. Created for direct consumption
- 45. Any goods for which demand increases when income increases
- 47. A good that decreases in demand when consumer income rises
Down
- 1. two goods that can replace one another
- 2. The price that exists when a market is clear of shortage and surplus
- 4. A situation in which the costs of doing a thing do not change over time
- 5. Unlimited wants with limited resources
- 9. All human exertion in the production of wealth and services
- 10. As you add an additional unit your utility will increase at a decreasing rate
- 11. The amount of a product that would be offered for sale at all prices that could happen in the market
- 12. What you give up to get something else
- 13. An economy that relies chiefly on market forces to allocate goods and resources and to determine prices
- 14. An economy in which production, investment, prices, and incomes are determined centrally by a government.
- 16. Costs that don't change
- 21. Statements based on facts
- 22. Everything physical which is not the result of human effort
- 24. Satisfication
- 33. Maximum price that can be charged
- 34. Created for indirect consumption
- 37. The process of discovering new ways of combining resources
- 38. To distribute
- 46. Amount seller pays to produce a good