Economics Review - Part 1

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Across
  1. 1. The idea that the government owns the factors of production and helps make key economic decisions
  2. 6. a consumer product without a widely recognized name or logo because it typically isn't advertised
  3. 7. A financial institution that accepts deposits, makes loans, and provides a wide array of services to its members
  4. 9. a product that is made by a well-known company.
  5. 10. An economic system where the government decides what is produced and how to allocate it
  6. 11. the loss of potential gain from other alternatives when one alternative is chosen.
  7. 13. Personal or capital wealth that creditors use to back up a loan.
  8. 14. The amount of money paid to the creditor in return for them providing the original credit.
  9. 15. One must sign one of these, which outlines what the tenants can and cannot do.
Down
  1. 2. Economic idea that argues that the government should have little to no role in the economy.
  2. 3. A condition in which one is unable to pay back any debts with the income they have.
  3. 4. This is the type of economy that the US has.
  4. 5. What is the study of the transfer, production, and consumption of goods and services?
  5. 8. When production cannot meet demand
  6. 12. Economic _____________ is the economic goal that works to ensure that there are no extreme ups and downs in the standard of living.