Across
- 5. Economist known for free-market advocacy, Milton Friedman
- 6. When government removes regulations
- 7. The responsiveness of demand or supply to price changes
- 9. A good that is bought and sold
- 11. An increase in the value of an asset
- 12. The extra benefit given to encourage behavior
- 14. Ownership shares in a company
- 16. Government spending and taxation policies
- 18. A limit on imports
- 20. The total value of goods and services produced in a country
- 21. A legal minimum hourly wage
- 23. The cost of the next best alternative given up
- 26. A person who acts on behalf of another
- 27. The place where stocks are bought and sold
- 30. A person who invests in a company
- 33. A tax placed on imported goods
- 34. The amount of money earned from work or investments
- 35. When general prices rise over time
- 36. Total amount of goods and services consumers want
- 38. The original sum of money borrowed
- 39. The value of assets minus liabilities
Down
- 1. When supply is greater than demand
- 2. When general prices fall over time
- 3. Economic system based on private ownership and markets
- 4. A market structure dominated by a few firms
- 8. Market structure with only one seller
- 10. Money borrowed that must be repaid
- 13. The amount charged for borrowing money
- 15. Total amount of goods available for sale
- 17. The father of modern economics who wrote The Wealth of Nations
- 19. The study of individual consumers and firms
- 21. The study of the economy as a whole
- 22. When economic growth slows or stalls
- 24. A period of economic decline
- 25. Economic theory associated with Karl Marx
- 28. The ability to produce goods and services
- 29. When a country buys and sells without restrictions
- 30. Economic system where government owns resources
- 31. A payment made to shareholders from company profits
- 32. The difference between revenue and cost
- 37. A tax on income or goods