Across
- 2. income that does not increase over time
- 3. rise in the general level of prices
- 4. act of buyers & sellers freely & willingly engaging in market transaction; a characteristic of capitalism & free enterprise
- 6. an economic system in which privately owned businesses have the freedom to operate for a profit with limited government intervention
- 8. federal program of disability & retirement benefits that cover most working people
- 9. federal health insurance program for senior citizens, regardless of income
- 10. severe economic downturn that lasted from late 2007 through mid-2009
- 12. driving force that encourages people & organization to improve their material well-being; characteristic of capitalism & free enterprise
- 13. fuel made from wood, peat, municipal solid waste, straw, corn, tires, landfill gases, fish oils, & other wastes
- 14. fundamental feature of capitalism, which allows individuals to own & control their possessions as hey wish; includes both tangible & intangible property
- 15. role of the consumer as ruler of the market in determining the types of goods & services produced
- 16. lowest legal wage that can be paid to most workers
Down
- 1. free enterprise market economy where people carry on their economic affairs freely, but are subject to some government intervention & regulation; also see mixed economy
- 5. risk-taking individual in search of profits; one of the 4 factors of production
- 7. the struggle among sellers to attract consumers
- 9. economic system that has some combination of traditional, command, & market economonies; also see modified free enterprise economy
- 11. difference between the revenue from sales & the full opportunity cost of resources involved in producing the sales