Economics Crossword

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Across
  1. 2. there is an inverse or negative relationship between the price of a good or service and the quantity demanded
  2. 4. Occurs when a demand for a good or service is greater than availability
  3. 7. the difference in a nation's income versus expenditure in a given year
  4. 10. there is a direct positive relationship between the price of a good or service and the quantity supplied
  5. 11. the most desirable alternative given up
  6. 12. the additional cost of one more unit
  7. 14. factor of production that refers to the effort people devote to a task
  8. 15. factor of production that refers to all natural resources
Down
  1. 1. Occurs when producers cannot or will not offer goods or services at current prices
  2. 3. when the quantity demanded equals the quantity supplied
  3. 5. factor of production that refers to any human-made resource used to produce other goods or services
  4. 6. the study of how people try to satisfy their needs and wants by making choices
  5. 8. type of market that is dominated by a few large profitable firms
  6. 9. a general increase in price level across an economy
  7. 13. When the opportunity cost stays the same the slope of the production possibilities curve would be described as this