Key Terms

123456789101112
Across
  1. 2. an economic system where companies are privately owned
  2. 5. quantity demanded exceeds supply
  3. 7. responsiveness of supply and demand based on economic factors
  4. 9. only one company controls supply
  5. 10. the reality that peoples wants always exceed the resources available to fulfill
  6. 11. a tangible item that has utility
Down
  1. 1. the decrease in the general level of prices in an economy
  2. 3. a tax placed on imported goods from foreign countries
  3. 4. a small number of companies control product supply
  4. 6. an item that is required or essential
  5. 8. quantity supplied exceeds demand
  6. 12. the increase in the general level of prices in an economy