Economics

2. a model that shows how governments, households, and businesses provide each other with resources, goods, and services
5. the study of choices
7. service produced by a non government entity ex. Walmart
8. an entity that makes a good or provides a service
11. when supply exceeds demand
13. an economy where supply and demand is based solely on producers and consumers
14. the standard measure of the value added created through the production of goods and services in a country during a certain period
15. a buyer of goods and services

1. the place on a graph where supply and demand curves intersect
3. an economy where the government regulates some parts, but allows producers to own their businesses
4. how much consumers will buy at a given price
6. how much of something
8. service produced by a government entity ex. education
9. an economy where the government has full control
10. an economy based on customs
12. when supply is less than demand