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