Across
- 5. A risk taker who organizes land, labor, and capital, to produce something.
- 6. Society is faced with this problem all the time because all resources are limited.
- 8. Forces businesses to improve and lower prices.
- 12. Land, Labor, Capital are 3 of the ____ (3 words).
Down
- 1. Someone who studies the use of resources and movement of goods within a society.
- 2. Prices in a free market are determined by ______ (3 words).
- 3. French phrase, "______ faire", meant to describe a market free from government involvement.
- 4. Famous economic phrase, "There's no such thing as a _____ (2 words).
- 7. Someone who is a "buyer" in the marketplace.
- 8. Economic system based in private ownership of property, resources, and businesses.
- 9. He wrote the "Wealth of Nations", considered the father of modern economics.
- 10. Free markets should be driven by ______ motive.
- 11. The idea that a free market is regulated not by government but by an "_____ hand" or by itself.