Across
- 2. Federal health insurance program for senior citizens, regardless of income.
- 4. Severe economic downturn that lasted from late 2007 through mid 2009.
- 7. Federal program of disability and retirement benefits that covers most working people.
- 8. Fuel made from wood, peat, municipal solid waste, straw, corn, tires, landfill gases, fish oils, and other waste.
- 9. An economic system in which privately owned businesses have the freedom to operate for a profit with limited government intervention.
- 11. The struggle among sellers to attract consumers.
- 13. Free enterprise market economy where people carry on their economic affairs freely, but are subject to some government intervention and regulation.
- 15. Lowest legal wage that can be paid to most workers.
- 16. Act of buyers and sellers freely and willingly engaging in market transactions; a characteristic of capitalism and free enterprise.
- 17. Difference between the revenue from sales and the full opportunity cost of resources involved in producing the sales.
Down
- 1. Income that does not increase over time.
- 3. Role of the consumer as ruler of the market in determining the types of goods and services produced.
- 5. Fundamental feature of capitalism, which allows individuals to own and control their possessions as they wish; includes both tangible and intangible property.
- 6. Economic system that has some combination of traditional, command, and market economies.
- 10. Risk-taking individual in search of profits; one of four factors of production.
- 12. Rise in general level of prices.
- 14. Driving force that encourages people and organizations to improve their material well-being; characteristic of capitalism and free enterprise.