Economics Crossword Test

3. The price of a good people are prepared to pay
5. Someone who took goods from one person and sold it to another
6. Powerful micro-states within a large area with successful trading
7. A good with decreasing demand when consumer income increases
8. Private ownership of the means of a production and the pursuit of profit
12. The measure of what a good costs
13. A measure used to show the elastics in a good's demand
15. The price of everything goes up but wage remains the same
17. Goods a country sends OUT to another country
19. A policy of extending a country's power and influence through colonization, use of military force, or other means
21. Idea to control how goods and money were moved from one country to another
23. Raw material or agricultural product bought and sold
25. important aspect of supply and demand
26. Where market is not in Equilibrium
27. Two goods that work together to sell
28. The point where consuming more of something does not give satisfaction

1. Originated in 1440; made to copy books a lot easier
2. Goods a country takes IN from another country
4. Will search for a better product until it meets marginal benefit
8. A policy of acquiring full or partial political control over another country to settle and exploit
9. The replacement of expensive products with less costly alternatives
10. A good with increasing demand when consumer income increases
11. Someone who purchases and uses goods
14. Quantity demanded and supplied become equal to each other
16. “All other things being equal” while ignoring reality or complexities
18. A change in purchasing power
20. A country that encourages its citizens to buy native goods rather than foreign goods
22. Good changes price but demand doesn't change
24. Originated in 1453, similar to Black powder, used for shooting weaponry