Economics

3. economic philosophy of free-market capitalism that opposes government intervention (a french term)
6. an economic system in which prices are determined by unrestricted competition between privately owned businesses
7. when income earned exceeds expenses paid
9. a market in which securities are bought and sold; a stock exchange.
13. Who created the invisible hand theory

1. the value of what you have to give up in order to choose something else
2. if at the market price the quantity demanded is equal to the quantity supplied
4. exchange (something) for something else, typically as a commercial transaction.
5. Something that is needed to survive
8. the state of being scarce or in short supply
9. the total amount of a specific good or service that is available to consumers
10. the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time
11. an economic principle referring to a consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service
12. Something that is desired