Across
- 5. lowest legal wage that can be paid to most workers
- 6. an economic system combining private and public enterprise.
- 7. is the total value of goods and services produced in a country.
- 9. are financial motivations for people to take certain actions.
- 11. a general increase in prices and fall in the purchasing value of money.
- 12. the act of buyers and sellers engaging in market transactions,freely and willingly
- 13. Dividing resources in a way that is considered fair
- 14. the desire for financial gain as an incentive in economic activity.
Down
- 1. a federal insurance program that provides benefits to retired people and those who are unemployed or disabled.
- 2. the situation in an economy where the desires and needs of consumers control the output of producers.
- 3. income that does not increase over time
- 4. where different economic firms seek to obtain a share of a limited good by varying the elements of the marketing mix: price, product, promotion and place.
- 8. Stable prices help avoid inflation (a rise in the general level of prices)
- 10. Freedom to make your own economic decisions