AP Economics

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