Economics Crossword

3. A ... price is set by the government above the existing free market equilibrium price and sellers cannot legally sell the good/service at a lower price
5. ... is raised through intervention such as taxation, privatisation, sale of licenses (e.g. 5G licenses), and the sale of goods/services
7. In reality, almost every country in the world operates as a mixed economic ...
8. An economy can be considered to be a market, mixed or ... economy
10. External costs occur when the social costs of an ... transaction are greater than the private costs
12. There is no purely free market economy in the world but some ... have less government intervention than others
13. A market economy is an economy that has no ... intervention
15. Individuals, ... and the government own factors of production and distribute goods/services

1. Market ... occurs when free market activity results in a less than optimum allocation of resources from the point of view of society
2. The higher the level of government ... , the more the economy will lean towards operating like a planned economy
4. Each economic system has numerous advantages and ...
6. ... occur when there is an external impact on a third party not involved in the economic transaction between the buyer and seller
9. The ... of economic systems and where certain economies fall based on the degree of government intervention
11. A ... economic system is a blend of a market and planned economy
14. A ... price is set by the government below the existing free market equilibrium price and sellers cannot legally sell the good/service at a higher price