Economics Part 1

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Across
  1. 5. An equilibrium occurs when supply _______ demand
  2. 8. Conflict between unlimited wants and limited resources
  3. 9. Step one of decision making process
  4. 12. People who are willing and able to work but who can not find a job
  5. 13. Highest point of the business cycle(prosperity)
  6. 14. The law of supply states that if price _______, then quantity supplied by the producers will decrease
Down
  1. 1. Characterized by heavy government influence and extensive social services
  2. 2. Economic decisions are not made by who
  3. 3. Supply exceeds demand
  4. 4. Are necessary for basic living
  5. 6. A depression is sometimes referred to as a
  6. 7. Rivalry exists among businesses to sell their goods and services
  7. 10. an abbreviation of Gross Domestic Product
  8. 11. Demand exceeds supply
  9. 15. The ________ is driven by supply and demand