AP Microeconomics

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Across
  1. 2. the advantage a firm has when it can produce more of a good or service
  2. 6. this market looks at the use of land, labor, and capital
  3. 7. restrictions on international trade
  4. 9. the satisfaction consumers receive from goods and services
  5. 11. an economic [blank] is what motivates people to participate in economic activities
  6. 13. a type of economy where both government and individuals control factors of production
  7. 15. one buyer for a factor of production, usually labor
  8. 17. a factor of production
  9. 21. combining all factors of production
  10. 22. a factor of production
  11. 23. this effect happens when pay impacts a persons purchasing power
  12. 24. a type of economy where the central government controls factors of production
Down
  1. 1. a type of economy where individuals control factors of production
  2. 3. a cost paid by making a tradeoff
  3. 4. the gap between unlimited wants and limited resources
  4. 5. these reasons move the demand or supply curve to the right or left
  5. 8. this effect happens when people can replace one good with another one
  6. 10. not enough goods or services exist to meet market demand
  7. 12. a firm completely dominates a market
  8. 14. when a price shift causes a substantial change in quantity demanded
  9. 16. the size of a firms operation
  10. 18. focusing production on select goods to increase efficiency
  11. 19. give something up to get something
  12. 20. a factor of production