Across
- 1. The study of how people use scarce resources.
- 3. The "father of modern economics." (Adam ___)
- 5. A sustained increase in the general price level.
- 6. The cost of the next best alternative forgone. (___ cost)
Down
- 2. A system where trade and industry are controlled by private owners.
- 4. The total value of goods produced and services provided in a country in a year.
- 7. A government-imposed trade restriction.