Economics Topic 2

12345678910111213141516171819202122232425262728
Across
  1. 4. the principle that everyone has the same legal rights
  2. 11. a period of change in which a nation moves from one economic system to another
  3. 12. the process of selling businesses or services operated by the government to individual investors, and then allowing them to compete in the marketplace
  4. 14. the struggle among producers for the dollars of consumers
  5. 15. government aid to the poor
  6. 16. love of one’s country
  7. 18. property that is owned by individuals or companies, not by the government or the people as a whole
  8. 19. the amount of money a business receives in excess of its expenses
  9. 21. an economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to produce or consume
  10. 22. a person or group of people living in a single residence
  11. 26. another name for a centrally planned economy
  12. 27. the study of economic behavior and decision-making in small units, such as households and firms
  13. 28. economic system that has some market-based elements and some level of government involvement
Down
  1. 1. a set of government programs that protect people who face unfavorable economic conditions
  2. 2. a political system in which the government owns and controls all resources and means of production and makes all economic decisions
  3. 3. the income people receive in return for supplying factors of production
  4. 5. the part of the economy that involves the transactions of the government
  5. 6. the incentive that drives individuals and business owners to improve their material well-being
  6. 7. a government license that grants an author exclusive rights to publish and sell creative works
  7. 8. any arrangement that allows buyers and sellers to exchange things
  8. 9. describes a form of government that limits individual freedoms and requires strict obedience from its citizens
  9. 10. the principle that people may decide what agreements they want to enter into
  10. 13. the process of bringing new methods, products, or ideas into use
  11. 17. an organization that uses resources to produce a product or service, which it then sells
  12. 20. the basic facilities that are necessary for a society to function and grow
  13. 23. the study of economic behavior and decision-making in a nation’s whole economy
  14. 24. a government license that gives the inventor of a new product the exclusive right to produce and sell it
  15. 25. a range of economic and political systems based on the belief that wealth should be distributed evenly throughout a society