Basic Economics Review

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Across
  1. 5. A risk taker who organizes land, labor, and capital, to produce something.
  2. 6. Society is faced with this problem all the time because all resources are limited.
  3. 8. Forces businesses to improve and lower prices.
  4. 12. Land, Labor, Capital are 3 of the ____ (3 words).
Down
  1. 1. Someone who studies the use of resources and movement of goods within a society.
  2. 2. Prices in a free market are determined by ______ (3 words).
  3. 3. French phrase, "______ faire", meant to describe a market free from government involvement.
  4. 4. Famous economic phrase, "There's no such thing as a _____ (2 words).
  5. 7. Someone who is a "buyer" in the marketplace.
  6. 8. Economic system based in private ownership of property, resources, and businesses.
  7. 9. He wrote the "Wealth of Nations", considered the father of modern economics.
  8. 10. Free markets should be driven by ______ motive.
  9. 11. The idea that a free market is regulated not by government but by an "_____ hand" or by itself.