Across
- 2. - the market value of all officially recognized final goods and services produced within a country within one year
- 3. - a technique used to determine whether the cost of a decision will be worth the benefit that it gives you
- 6. - the economics of single country, or even the world, in terms of the terms of the total amount of goods and services produced, total income earned, and the level of employment of productive resources
- 7. - a business cycle slowdown in economic activity for two consecutive quarters (six months); not as severe as a depression
- 8. - a time when investment prices rise, usually during an economic recovery or boom
- 10. - a time when investment prices fall, usually during an economic recession
- 11. - a drop in business or economic activity
- 13. - an economic model that illustrates how money, resources, goods and services move through the economy
- 16. - Economic expansion and prosperity
- 18. - the value of the best alternative that is given up when a choice is made
- 22. - a rise in the cost of goods and services when too much money is in the economy
- 23. -A sustained economic recession in which a nation's GDP is falling and marked by low production and salesand a high rate of business failures and unemployment
- 24. - the act of giving up one thing in exchange for another
- 25. - Supply and Demand are two very strong market concepts that show the relationship between producers and consumers, and the price of goods. For example, one of these laws states that when supply goes up, price may go down.
Down
- 1. - the periodic highs and lows of the economy
- 4. - the percentage you will be charged for borrowing money
- 5. - the total dollar value of all final goods and services provided for consumption in society during a particular time period; closely aligned with the GDP
- 9. - When the economy is up is a good time to sell investments because prices are high
- 12. -the branch of social science that deals with the production, distribution, and consumption of goods and services, and their management
- 14. - A severs, sustained downturn in economic activity that lasts for several years
- 15. - the idea that economic resources can be used in more than one way
- 17. - a lack of goods or services that people demand or want because human wants exceed the capacity of available resources
- 19. - When the economy is down is a good time to buy investments because prices are low
- 20. - Negative economic growth for at least six months in a row
- 21. - the economic behavior of individuals, firms, and markets