Economics

2. The amount of a good or service that producers are willing to sell at a possible price
3. An economy where economic decision are based on custom and historical precedent
6. The study of how people use scarce resources to produce and distribute goods and services
7. In a mixed or free market economy, the principle that "consumer is king."
8. An economy in which the government makes all the deisions
9. There is never enough resources to satisfy or produce all the things people want
10. When sellers try to attract buyers away from other sellers by producing better products at lower prices
11. The amount of money exchanged for a good or service
12. An economy that is a mix of free market and command economy
14. The amount of a good or service that consumers are willing to buy at a possible price

1. The thing that is given up when a choice is made
4. How much money a company makes after paying for their resources
5. An economic system where individuals own business and have the freedom to choose how to spend, buy and sell
8. Selecting an item or action from a set of possibilities
13. Anything that motivates an individual or business to do something