Economics Final Crossword Puzzle

1. / Economic system in which the means of production are socially owned and used to meet human needs, not to create profits
2. / The amount by which the stock of capital (plant, machinery, materials, etc.) in an enterprise or economy changes
5. / Freedom of private businesses to operate competitively for profit with minimal government regulation
11. / Benefit and value of something that must be given up to acquire or achieve something else. A back up way of paying
12. / An estimate of income and a plan for domestic expenditure of an individual or a family, often over a short period, such as a month or a week
13. / Organized economic activity concerned with manufacture, extraction and processing of raw materials, or construction
16. Demand / Other factors being constant, price and quantity demand of any good and service are inversely related to each other

1. / To specialize in a type of task,e.g. Tailoring,Mechanics,Technology
3. / the state of being bankrupt
4. / The amount of a product that consumers are willing and able to purchase at a specified price
6. / Price for which the currency of a country can be exchanged for another country's currency
7. / A level of subsistence or material welfare of a community, class, or person
8. / The economic condition in which there is neither excess demand nor excess supply in a market
9. / Use of resources so as to maximize the production of goods and services
10. / Society where the means of production belongs to everyone, and goods and services are produced to satisfy human needs
14. / The amount of a product that producers are willing and able to offer for sale at a specified price
15. / The act, system, or business of providing financial protection for property, life, health, etc., against specified contingencies, such as death, loss, or damage, and involving payment of regular premiums in return for a policy guaranteeing such protection