Economics

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Across
  1. 3. A phrase that refers to the trade off that nations face when choosing to produce less or more military or consumer goods
  2. 7. maximum price
  3. 8. Good used in place of another
  4. 9. The cost/value of what you passed up, the next best thing
  5. 13. A product consumers demand more of as income increases
  6. 14. minimum price
  7. 15. The study of how people chose to spend their resources
Down
  1. 1. Expectations about future demands for goods today
  2. 2. "All other things held constant."
  3. 4. quantity supply = quantity demand
  4. 5. The decision to sacrifice one thing for another
  5. 6. A product consumers demand less of as income increases
  6. 10. Seven different ranges of income and how much they get taxed
  7. 11. A market dominated by a single seller
  8. 12. A market structure in which a few large firms dominate the market
  9. 16. Two goods used together