Across
- 3. What to produce? How to produce? For whom to produce?
- 5. choices made from two or more alternatives
- 7. unemployment resulting from industrial reorganization typically due to technological change
- 10. a limit placed on the quantities of a product that can be imported
- 12. A situation in which unlimited wants exceed the limited resources available to fulfill those wants
- 13. the most desireable alternative given up as a result of a decision
- 14. price, majority rule, contest, force, sharing, lottery, authority, first come first served, personal characteristics, need, and merit
- 16. quantity demanded is greater than quantity supplied
- 18. the material well-being of an individual, group, or nation
- 20. quantity supplied is greater than quantity demanded
- 23. tax on imports
- 24. alternative that must be given up when a choice is made
- 25. a business owned and controlled by one person
Down
- 1. unemployment linked to seasonal work
- 2. consumers buy more of a good when its price decreases and less when its price increases
- 4. unemployment caused by workers voluntarily changing jobs
- 6. a business owned by stockholders who share in its profits but are not personally responsible for its debts
- 8. a business owned by two or more people
- 9. a graph that shows alternative ways to use an economy's productive resources for two products
- 11. the point at which quantity demanded and quantity supplied are equal; market clearance price is here
- 15. a sum of money granted by the govt. to assist an industry or business
- 17. land, labor, capital, and entrepreneurship
- 19. payments by the govt. to households
- 21. the additional benefit associated with an action
- 22. the additional cost associated with an action