Chapter 3 Econ Vocab

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Across
  1. 4. risk taking individual who introduces new products or services
  2. 5. lowest legal wage to be paid to workers
  3. 6. something that simulates activity among people
  4. 11. economic system in which privately owned businesses have freedom to operate for a profit
  5. 13. unfavorable or harmful
  6. 15. buyers and sellers willingly engaging in market transactions
  7. 18. rise in general level of prices
  8. 20. something differenceivates
  9. 21. determining types of goods and services produced
Down
  1. 1. people are free but still have some government intervention
  2. 2. fundamental feature of capitalism allows individuals to own and control possessions
  3. 3. force encourages people to improve their material
  4. 7. to allow for
  5. 8. fuel made from wood waste straw corn and other wastes
  6. 9. combines traditional command and market economies
  7. 10. differce between revenue and cost of resources
  8. 11. income that doesn't change overtime
  9. 12. someone or something that controls activities
  10. 14. fed health insurance program for senior citizens
  11. 16. struggle among sellers to get buyers
  12. 17. fed program of disability and retirement benefits
  13. 19. economirisk-takingfrom 2007-2009