Real World Econ

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Across
  1. 3. the protection against economic risks
  2. 4. the ideal price for buyers and sellers.
  3. 5. people have the right to own their labor and possessions
  4. 7. what happens when desirable products are acquired by the strongest who simply take what they want from others
  5. 11. a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole
  6. 13. an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers.
  7. 16. based on who you are, what you have, how you look, etc.
  8. 18. resources, goods, and services are allocated by price
Down
  1. 1. all people, including leaders, are subject to the same laws
  2. 2. competition favoring those who wait the longest
  3. 4. businesses are motivated by profit to innovate
  4. 6. products go to those who need it most
  5. 8. increasing the production of jobs, goods, and services over time.
  6. 9. an economic and political system in which a country's trade and industry are controlled by private owners for profit.
  7. 10. the freedom of changing jobs, making new businesses, and how to spend and save money
  8. 11. the quantity supplied is greater than that demanded.
  9. 12. the quantity supplied is less than that demanded.
  10. 14. prices are determined by people freely buying and selling
  11. 15. what is fair
  12. 17. determined by interactions of buyers and sellers