FOB Unit 2 Economics

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Across
  1. 3. a free market system
  2. 8. term used when revenue is greater than expenses
  3. 10. focuses on the study of how individual consumers choose to spend and save
  4. 11. word that follows debt____ and represents the maximum amount that the government is allowed to borrow
  5. 13. study of the overall activity of an economic system including employment, GDP and taxes
  6. 17. economic system in which the government controls the public ownership of all enterprise
  7. 19. one competitor dominating an industry
  8. 20. type of policy that represents government decisions for taxes and spending
Down
  1. 1. competition that is open to many companies selling similar merchandise with a wide range of prices
  2. 2. a recession lasting a lengthy period of time
  3. 4. the minimum amount of funds that a bank must hold is called a ________ requirement
  4. 5. type of competition in which the product is the same for everyone
  5. 6. economic system in which government owns and operates most everything serving the public
  6. 7. the timeframe when the rate of price increases starts to slow down
  7. 9. term used when expenses are greater than revenue
  8. 10. type of policy that represents the Federal Reserve and decisions centered around interest rates and supply of money
  9. 12. low point in the business cycle when GDP drops 2 quarters in a row
  10. 14. a small number of companies competing to sell a product
  11. 15. the quantity of products that producers make available at different prices
  12. 16. quantity of products that consumers are willing to purchase at different prices
  13. 18. part of the business cycle when business production falls and unemployment rises