Economics Crossword

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Across
  1. 3. the state of being useful, profitable, or beneficial
  2. 6. Modern capitalism owes its roots to Adam Smith and his Wealth of Nations, which many consider the single most important economic work in history.
  3. 8. a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.
  4. 11. a general increase in prices and fall in the purchasing value of money
  5. 15. the amount by which the cost of a country's imports exceeds the value of its exports
  6. 17. the theory or practice of shielding a country's domestic industries from foreign competition by taxing imports
  7. 19. the ability of an individual or group to carry out a particular economic activity more efficiently than another individual or group
  8. 21. international trade left to its natural course without tariffs, quotas, or other restrictions
  9. 22. an increase in the value of one currency in terms of another
  10. 23. an amount of something left over when requirements have been met
  11. 25. a measure of average income per person in a country.
  12. 28. the ability of an individual or group to carry out a particular economic activity (such as making a specific product) more efficiently than another activity
  13. 30. an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state
  14. 35. a situation when the price charged is more than or less than the equilibrium price determined by market forces of demand and supply
  15. 38. the pointed top of a mountain
  16. 39. well-known for his numerous contributions in the field of economics and political philosophy.
  17. 41. an author and economist who is well-known for his stance that national governments should attempt to smooth out the effects of expansion and contraction in the business cycle by using fiscal and monetary policy
  18. 43. a thing that rouses activity or energy in someone or something
  19. 44. used by the government of a country to achieve macroeconomic objectives like inflation, consumption, growth and liquidity
  20. 46. the lowest wage permitted by law or by a special agreement
  21. 47. Series of statistical figures, such as the consumer price index or the gross domestic product, used by economists to predict future economic activity
  22. 48. an account that is used to set aside funds to be used in an emergency
  23. 49. a situation in which income exceeds expenditures
Down
  1. 1. For an individual, it represents the properties owned, less any debt the person has. For a company, net worth is the value of the company.
  2. 2. a sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive
  3. 4. a state of limited competition, in which a market is shared by a small number of producers or sellers
  4. 5. the system by which the value of a currency was defined in terms of gold, for which the currency could be exchanged
  5. 7. the use of government spending and taxation to influence the economy
  6. 9. a state or situation in which something needed cannot be obtained in sufficient amounts.
  7. 10. the action of becoming larger or more extensive
  8. 12. the amount to which a person has a right
  9. 13. is an agreement among the United States, Canada and Mexico designed to remove tariff barriers between the three countries
  10. 14. a situation when the price charged is more than or less than the equilibrium price determined by market forces of demand and supply
  11. 16. an index of the variation in prices paid by typical consumers for retail goods and other items
  12. 18. a policy or attitude of letting things take their own course
  13. 20. the central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system
  14. 23. the state of being scarce or in short supply
  15. 24. an individual retirement account allowing a person to set aside after-tax income up to a specified amount each year
  16. 26. American economist and statistician best known for his strong belief in free-market capitalism.
  17. 27. a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
  18. 29. the total value of goods produced and services provided in a country during one year
  19. 31. an examination of the additional benefits of an activity compared to the additional costs of that activity
  20. 32. the state or quality of producing something
  21. 33. is the only global international organization dealing with the rules of trade between nations
  22. 34. an economic system in which private business operates in competition and largely free of state control.
  23. 36. the condition in which virtually all who are able and willing to work are employed
  24. 37. a long, narrow open container for animals to eat or drink out of
  25. 40. a period of temporary economic decline during which trade and industrial activity are reduced
  26. 42. the exclusive possession or control of the supply or trade in a commodity or service.
  27. 45. a formal authorization or proposition