Economics

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Across
  1. 2. A situation in which the quanity demanded is greater than the supply
  2. 9. Making, buying selling, and trading of a country
  3. 10. the sum of all goods and services produced within a country's borders in one year
  4. 14. the desire to own something and the ability to pay for it
  5. 15. An economic system in which the government controls a country's economy.
  6. 18. industry involved in the transfer and processing of information and knowledge
  7. 19. a modern, industrialized country in which people are generally better educated and healthier and live longer
  8. 21. An economy in which production is based on customs and traditions and economic roles are typically passed down from one generation to the next.
  9. 23. market-based economic system with limited government involvement
  10. 24. Industry that produces raw materials; examples include agriculture, fishing, mining, and forestry.
  11. 25. a type of economy in which people are free to buy, sell, and produce whatever they want
Down
  1. 1. The idea that certain restrictions should be placed on government to protect the natural rights of citizens.
  2. 3. Land, labor, and capital; the three groups of resources that are used to make all goods and services
  3. 4. economic system in which decisions on production are made by business owners and consumers
  4. 5. A situation in which quantity supplied is greater than quantity demanded
  5. 6. A government in which no limits are imposed on the ruler's authority. The leaders don't have to follow the same laws as everyone else.
  6. 7. A country that has low industrial production and little modern technology
  7. 8. The amount of goods available
  8. 11. total GDP divided by total population; average GDP
  9. 12. the sum of all goods and services produced in a nation in a year
  10. 13. A person who organizes, manages, and takes on the risks of a business.
  11. 16. statistics that measure the performance of the economy
  12. 17. Industry involved in providing goods and service to others
  13. 20. Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain
  14. 22. Industry that deals with making products that are likely to be directly consumed by individuals.