Chapter 6 Economics

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Across
  1. 2. when quantity supplied is more than quantity demanded
  2. 7. Such as air and water pollution, that "spill over" onto other people who have no control over how much of a good is produced(side effects)
  3. 9. when the quantity supplied does not equal the quantity demanded at a certain price
  4. 12. A system for allocating goods and services using tools other than price
  5. 14. quantity supplied is greater than quantity demanded
  6. 16. the point at which quantity supplied and quantity demanded are equal
  7. 17. when people conduct business without regard for government controls on price and quantity(illegal)
Down
  1. 1. when there is a sudden shortage of a good, such as wheat or gasoline
  2. 3. when quantity demanded is more than quantity supplied
  3. 4. when quantity demanded is greater than quantity supplied
  4. 5. a maximum price that can be charged
  5. 6. a lowest price that can be paid
  6. 8. the lowest hourly a business can pay workers
  7. 10. a price ceiling placed on the amount people pay for housing
  8. 11. a product that is popular for a short period of time
  9. 13. the amount of goods a firm has on hand
  10. 15. the costs consumers pay in looking for a good or service