Across
- 2. The main economic problem of meeting people's unlimited wants with scarce resources
- 3. A noncash charge the firm takes for the general wear and tear on its capital goods
- 6. A government payment to encourage or protect a certain economic activity
- 8. An economics and political system in which all factors of production are collectively owned by the state
- 9. Basic requirement for survival that includes food, clothing and shelter
- 10. Cost of the next-best alternative use of money, time, or resources when making a choice
- 13. States that quantity demanded varies inversely with price
- 15. A good intended for final use by consumers rather than businesses
Down
- 1. The dollar value of all final goods, services, and structures produced within a country's borders in a 12-month period
- 4. Illegal combination of corporations or companies organized to hinder competition
- 5. The contradiction between the high monetary value of a nonessential item and the low value of and essential item
- 7. Mechanism that allows buyers and sellers to exchange products
- 11. Amount of product offered at sale for all possible prices
- 12. Market structure with a single seller of a particular product
- 14. Something we would like to have that is not necessary for survival