The Allocation of Resources

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Across
  1. 2. the actions of individual consumers, firms and households in the private sector
  2. 6. the quantity producers are willing to supply is exactly equal to the quantity consumers are willing to buy
  3. 7. the price of a commodity when sold in a given market
  4. 8. studies the economic decisions and actions of individual consumers, producers and households
  5. 10. the amount of a good and service producers are willing and able to make and sell to consumers in a market
  6. 13. a product will be the sum of all individual supply curves of producers competing to supply that product
  7. 15. he system where the forces of demand and supply determine the prices of commodities and the changes there
  8. 16. as the prices of a product rises, quantity demanded falls
  9. 18. considers economics issues and actions that affect the whole economy
  10. 21. all decisions about how resources are used, what is produce, how goods and services are priced and allocated, are taken by organization owned, controlled to the government
  11. 22. if the demand for a product tends to rise as incomes rise
  12. 23. the willingness of consumers to buy goods and services
  13. 24. any given good or service shows the relationship between the total quantity demanded by consumers each period and the price of that product
  14. 25. the amount of a good and service consumers are willing and able to buy
Down
  1. 1. consumers must have enough money to buy the goods and services they need and want
  2. 3. total demand for that product from all its consumers willing and able to buy it
  3. 4. as the price of a product falls, quantity demanded rises
  4. 5. the quantity producers are willing to supply is less than the quantity consumers are willing to buy
  5. 9. deciding how to best to allocate limited resources to different productive uses
  6. 11. set of arrangement that brings together all the producers and consumers of a good and service
  7. 12. if demand tends to fall as incomes rise
  8. 14. system how a national economy answers the questions of what to produce, how to produce and whom to produce
  9. 17. often used to refer a national economy
  10. 19. the demand of just one customer
  11. 20. refers to the amount of a good and service firms or producers are willing to make and sell at different prices