Economics
Across
- 4. general rise in the price level of an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services
- 5. the field of economics that looks at the economic behaviors of individuals, households, and companies.
- 8. anything that gives value or benefit to its owner
- 9. The government or other central authority makes all economic decisions in this type of economy
- 10. An economic system where tradition and custom govern economic decisions
- 11. consumers can be “_______” to make choices voluntarily that are better for them and thus for society
- 13. economists that assume that consumers are rational.
- 14. takes a wider view and looks at the economies on a much larger scale—regional, national, continental, or even global.
- 15. Increase money supply: lower reserve requirements for banks
Down
- 1. the founding father of economics
- 2. Economic decisions are made by individuals competing to earn profits based on supply and demand in this economy
- 3. increase government spending
- 6. When private producers are left alone to decide what to produce and how to produce it, they are guided by the…
- 7. a means by which societies or governments organize and distribute available resources,services,and goods across a geographic region or country.
- 12. consumers decide whether to consumer the “next” unit of a good
- 14. Combines elements of pure market and command economies; Government and individuals share the economic decision making process in this economy