Across
- 3. Combines specialization and dividing a complex production task into sub-tasks
- 5. intervals of expansion followed by recession or contractions in economic activity over time
- 7. The number of goods and services suppliers produce and sell at a given price
- 9. Describes free market capitalism that opposes government intervention
- 10. As prices rise, quantity decreases
- 12. How much output can be produced with a given set of inputs
Down
- 1. As prices rise, quantity increases
- 2. The process of focusing one's occupational concentration on a specific area of expertise
- 4. The supply of goods match the demands
- 6. Self-interested individuals operate interdependently of each other
- 8. This occurs when companies sell identical products at a fixed price
- 11. The amount of money required to acquire a product