Economics 3rd 9 weeks test

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Across
  1. 4. 2 people trading items for another
  2. 5. measure of economic performance
  3. 6. aka. equilibrium
  4. 7. The nature and degree of competition among firms operating in the same industry.
  5. 10. price and quantity demanded are inversely related
  6. 13. price and quantity supplied are directly related
  7. 16. one seller
  8. 17. model shows the interaction between two groups of economic decision-makers
  9. 18. similar products, lots of sellers
  10. 20. seen as a separate legal entity
  11. 21. study of satisfying unlimited wants and needs
  12. 23. measures the value of the final goods and services produced in the United States
  13. 24. cost of the next best choice
  14. 26. one worker focuses on one specific job and has all the training in that area.
Down
  1. 1. owned by 2 or more people
  2. 2. identical products
  3. 3. few sellers
  4. 8. the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
  5. 9. resources required to produce products
  6. 11. desire, ability, and willingness to buy a product
  7. 12. the desire and ability to produce and sell a product
  8. 14. not enough resources to produce all things
  9. 15. the lowest legal price that can be paid for a product
  10. 19. deals with behavior and decision making by individual units
  11. 22. owned by one person
  12. 25. alternative choice