Applied Economics

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Across
  1. 4. – The principle that as prices rise, producers supply more.
  2. 7. – The willingness and ability of consumers to buy a product or service.
  3. 8. – Payments made to workers in exchange for their labor.
  4. 11. – The ability to maximize output while using minimal resources.
  5. 14. – Putting money into assets or businesses to generate future profit.
  6. 17. – The framework a society uses to organize production and distribution.
  7. 21. – Materials, labor, and capital used to produce goods and services.
  8. 23. – The amount of goods or services available in the market.
  9. 25. – The method of distributing resources to different uses.
  10. 27. – The overall expenses involved in producing a good or service.
  11. 29. – A person or company that creates and supplies goods or services.
  12. 30. – The value of what is given up when choosing one option over another.
  13. 33. – The process of selecting the best option among different choices.
  14. 35. – The steady rise in prices over a period of time.
  15. 36. – The financial gain a business makes after subtracting costs.
  16. 37. – Natural resources, such as water, minerals, and forests, used in production.
  17. 38. – The efficiency of producing goods and services within a given time.
  18. 39. – The branch of economics that examines individual consumers and businesses.
Down
  1. 1. – The state where the quantity supplied and demanded are balanced.
  2. 2. – The act of developing, managing, and growing a business venture.
  3. 3. – The principle that as prices drop, consumers buy more.
  4. 5. – The amount of money required to purchase a good or service.
  5. 6. – The process of planning income and expenses to manage finances.
  6. 9. – A person who starts and runs a business, taking financial risks.
  7. 10. – The fair and just allocation of resources in an economy.
  8. 11. – The study of how people and societies manage limited resources.
  9. 12. – The process of delivering goods from producers to consumers.
  10. 13. – The total earnings a business receives from selling goods or services.
  11. 15. – Using resources in a way that preserves them for the future.
  12. 16. – A person who buys goods or services for personal use.
  13. 18. – The increase in a country’s production of goods and services over time.
  14. 19. – The point at which supply and demand are perfectly balanced.
  15. 20. – The basic economic issue of having limited resources to meet unlimited wants.
  16. 22. – The use of goods and services to satisfy needs and wants.
  17. 24. – The process of making goods and services for consumption.
  18. 26. – The work and effort provided by people to produce goods and services.
  19. 28. – The rivalry between businesses to attract customers and increase sales.
  20. 31. – The study of the overall economy, including national income and growth.
  21. 32. – Tools, machinery, and equipment used in the production of goods and services.
  22. 34. – A system where buyers and sellers exchange goods and services.