Government regulations in the market

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Across
  1. 3. (13 letters)Clue: When the free market does not lead to an efficient allocation of resources.
  2. 4. (11 letters)Clue: Describes an unfair or unequal distribution of wealth or resources.
  3. 7. (19 letters)Clue: An ideal market structure with many buyers and sellers and no market power.
  4. 11. (11 letters)Clue: Beneficial products that tend to be under-consumed in a free market.
  5. 12. (20 letters)Clue: When resources are distributed to produce the most desired mix of goods.
  6. 13. (12 letters)Clue: Harmful products over-consumed without government intervention.
  7. 14. (10 letters)Clue: The body that intervenes to correct market failures and provide public services.
Down
  1. 1. (18 letters)Clue: When all market participants have full knowledge of prices and products.
  2. 2. (16 letters)Clue: The assumption that resources can move freely and instantly across markets.
  3. 5. (14 letters)Clue: Adam Smith’s metaphor for self-interest unintentionally benefiting society.
  4. 6. (9 letters)Clue: Inputs like land, labor, and capital used in production.
  5. 8. (13 letters)Clue: Third-party effects of economic activity, not reflected in market prices.
  6. 9. (11 letters)Clue: Non-excludable, non-rivalrous goods, like street lighting or national defense.
  7. 10. (20 letters)Clue: When buyers' preferences drive what goods and services are produced.