Across
- 3. economic philosophy of free-market capitalism that opposes government intervention (a french term)
- 6. an economic system in which prices are determined by unrestricted competition between privately owned businesses
- 7. when income earned exceeds expenses paid
- 9. a market in which securities are bought and sold; a stock exchange.
- 13. Who created the invisible hand theory
Down
- 1. the value of what you have to give up in order to choose something else
- 2. if at the market price the quantity demanded is equal to the quantity supplied
- 4. exchange (something) for something else, typically as a commercial transaction.
- 5. Something that is needed to survive
- 8. the state of being scarce or in short supply
- 9. the total amount of a specific good or service that is available to consumers
- 10. the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time
- 11. an economic principle referring to a consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service
- 12. Something that is desired