economics

3. - The person or firm providing a good in an economic transaction.
5. - The profit motive that encourages people to work and innovate.
7. - A mixture of both a market and a planned economy.
9. - Large firms that dominate a market and reduce competition.
10. - An economy where the government makes all the production decisions.
13. - The act of a government getting involved in the allocation of resources.
14. - The motivation for consumers and producers to maximize their own satisfaction.

1. - Describes goods like education or healthcare that are good for society.
2. - The act of supplying goods or services, which can be over or under-supplied.
3. - The total cost to both the individual and the rest of society.
4. - The way prices change to allocate scarce resources.
6. - When the market fails to allocate resources efficiently for society.
8. - The authority that uses regulation and nationalization to intervene.
11. - The type of economic system used by almost every country today.
12. - The type of system that decides how to answer the three fundamental questions.