Intro to Economics

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Across
  1. 1. The value of the next-best alternative that is given up when a choice is made.
  2. 5. Actions taken by a central bank to control the money supply and achieve sustainable economic growth.
  3. 8. The branch of economics concerned with the behavior of individual households and firms in making decisions.
  4. 9. The use of government spending and taxation to influence the economy.
  5. 10. A tax or duty to be paid on a particular class of imports or exports.
  6. 11. When government spending exceeds government revenue.
  7. 13. A general increase in prices and fall in the purchasing value of money.
Down
  1. 2. The ability of an individual or group to carry out a particular economic activity (such as producing a specific good) more efficiently than another activity.
  2. 3. Acronym for the total value of all finished goods and services produced within a country's borders in a specific time period.
  3. 4. The fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources.
  4. 5. The branch of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
  5. 6. The point where the quantity demanded equals the quantity supplied.
  6. 7. The amount of a good or service that producers are willing and able to offer for sale at a given price.
  7. 12. The quantity of a good or service that consumers are willing and able to buy at a given price.