Across
- 2. federal program of disability and retirement benefits that covers most working people
- 3. sustained rise in the general level of prices of goods and services
- 5. the struggle among sellers to attract consumers
- 6. federal health insurance program for senior citizens, regardless of income
- 8. driving force that encourages people and organizations to improve their material well-being
- 9. economic system in which privately owned businesses have the freedom to operate for a profit with limited government intervention
- 11. act of buyers and sellers freely and willingly engaging in market transactions
- 12. income that does not increase over time
- 15. fundamental feature of capitalism, which allows individuals to own and control their possessions as they wish
- 16. something that stimulates activity among people or forces
- 17. role of consumer as ruler of the market in determining the types of goods and services produced
Down
- 1. severe economic downturn that lasted from late 2007 through mid-2009
- 4. economic system that has some combination of traditional, command, and market economies; term describes the current U.S. economy
- 7. lowest legal wage that can be paid to most workers
- 10. fuel made from wood, peat, municipal solid waste, straw, corn, tires, landfill gases, fish oils, and other waste
- 13. someone or something that controls activities
- 14. difference between the revenue from sales and the full opportunity cost of resources involved in producing the sales