Economics Crossword

1. the things that people sell
3. an activity that someone is paid to perform
6. the money received in payment for goods or services (rent, wages, interest)
8. an economic system where businesses and property are privately owned. The price and amount of goods traded are based on supply and demand and has little government regulation.
10. the right to make decisions for an individual’s business or property
13. the way people earn and spend money
15. the name of Adam Smith’s idea of a free market economy
16. (communism)- an economic system where property and business are owned by the government. The government makes choices about producing and pricing. The consumers have no choice.

1. individuals own businesses and property rather than the government
2. people or businesses offering goods for sale
4. the person who makes the goods
5. a person who buys goods and services
7. the government’s right to take private property for public use as long as they pay a fair price to the owner
9. the money left over after all expenses are paid
11. the amount the seller has to sell at a particular price
12. what consumers are willing to buy at a given price
14. when different businesses compete for consumers’ money such as Walmart v. Target or Microsoft v. Apple.