Economics crossword

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Across
  1. 2. any situation where making one choice means losing something else
  2. 6. an economy's ability to produce goods or services at lower opportunity cost than competitors
  3. 9. he mandated maximum amount a seller is allowed to charge for a product or service.
  4. 11. someone that acquires goods or services for direct use or ownership
  5. 13. a situation in which demand for a product or service exceeds the available supply.
  6. 17. something that motivates a group or individual to do something.
  7. 19. a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export.
  8. 22. the amount of physical, mental, and social effort used to produce goods and services in an economy.
  9. 23. the lack of resources to be used to fulfill wants and needs or the gap between what one has and what one wants.
  10. 25. the amount of want or need there is for a specific product to be available for purchase
  11. 26. the price at which supply equals demand for a product
  12. 28. is the spread of products, technology, information, and jobs across national borders and cultures.
  13. 29. someone who creates and supplies goods or services.
Down
  1. 1. an economic system based on supply and demand with little or no government control and consumers have free will when buying
  2. 3. the human-created assets that can enhance one's power to perform economically useful work
  3. 4. the natural resources in production especially the space on which the factory is built.
  4. 5. the curve that shows the maximum use of resources to produce various combinations of products (use first letter of each word)
  5. 7. the potential benefits an individual, investor, or business misses out on when choosing one alternative over another.
  6. 8. the study of how people try to satisfy unlimited wants and needs with limited resources
  7. 10. the inputs needed for the creation of goods or services
  8. 12. a method of production whereby an entity focuses on the production of a limited scope of goods to gain a greater degree of effectiveness
  9. 13. A surplus describes the amount of an asset or resource that exceeds the portion that's actively utilized.
  10. 14. a tax imposed by one country on goods and services imported from another country.
  11. 15. governments impose absolutely no tariffs, taxes, or duties on imports, or quotas on exports.
  12. 16. when a producer can produce a good or service in greater quantity for the same cost or lower than competitors
  13. 18. the law that states that, the higher the price of something is, the lower the demand will be
  14. 20. the law that states that, as the price of something goes up, the number of sources offering that thing will also go up.
  15. 21. An embargo is when a government refuses to trade with a country or a certain part of a country.
  16. 24. a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers.
  17. 27. the lowest amount at which a good or service may be sold and still function within the traditional supply and demand model.