Across
- 6. Lowest legal wage that can be paid to most workers
- 8. An economic system in which private owned businesses have freedom to operate for a profit with limited government intervention
- 9. Difference between the revenue from sales and the full opportunity cost of resources involved in production sales
- 10. Income that does not increase over time
- 11. Driving force that encourages people and organizations to improve their material well-being; characteristic of capitalism and free enterprise
- 12. Severe economic downturn that lasted from laye 2007 through mid-2009
- 14. Rise of general level of prices
- 16. Free enterprise economy where people carry on their economic affairs freely, but are subjected to some government intervention and regulation
Down
- 1. Role of consumer as a ruler of the types of goods and services produced
- 2. Fundamental feature of Capitalism, which allows individuals to own and control their possessions as they wish; includes both tangible and intangible property
- 3. Economic system that has some combination of traditional, command, and market economies
- 4. Act of buyers and sellers freely and willingly engaging in market transactions; a characteristic of capitalism and free enterprise
- 5. Fuel made from wood, peat, municipal solid waste. straw, corn, tires, landfill gases, fish oils, and other waste
- 6. Federal health insurance program for senior citizens, regardless of income
- 7. The struggle among sellers to attract consumers
- 13. Federal program of disability and retirement benefits that covers most working people
- 15. Risk-taking individual in search of profits, one of the four factors of production