Across
- 5. a factor that can change
- 6. income received by a government from taxes and nontax sources
- 7. the income people receive for supplying factors of production, such as land, labor, or capital
- 11. all nonmilitary people who are employed or unemployed
- 13. a good that consumers demand less of when their incomes increase
- 14. a government-issued right to operate a business
- 16. government aid to the poor
- 17. tendency of suppliers to offer more of a good at a higher price
- 21. fiscal policies, like higher spending and tax cuts, that encourage economic growth
- 23. a maximum price that can be legally charged for a good or service
- 25. the point at which quantity demanded and quantity supplied are equal
- 26. objects that have value in themselves and that are also used as money
- 28. a minimum price for a good or service
- 29. the amount of goods available
- 32. the study of the behavior and decision making of entire economies
- 34. the study of how people seek to satisfy their needs and wants by making choices
- 35. the desire to own something and the ability to pay for it
- 36. a required payment to a local, state, or national government
Down
- 1. the use of government spending and revenue collection to influence the economy
- 2. the right to sell a good or service within an exclusive market
- 3. a business owned and managed by a single individual
- 4. labor that requires advanced skills and education
- 8. actions or activities that one person performs for another
- 9. physical objects such as clothes or shoes
- 10. labor that requires specialized skills and training
- 12. fiscal policies, like lower spending and higher taxes, that reduce economic growth
- 15. the study of the economic behavior and decision making of small units, such as individuals, families, and businesses.
- 18. the legally bound obligation to pay debts
- 19. Old-age, survivors, and disability insurance (OASDI)
- 20. objects that have value because the holder can exchange them for something else of value
- 22. a business organization owned by two or more persons who agree on a specific division of responsibilities and profits
- 24. an institution for receiving, keeping, and lending money
- 27. the method used by a society to produce and distribute goods and services
- 30. economic system in which decisions on production and consumption of goods and services are based on voluntary exchange in markets
- 31. the change in consumption resulting from a change in real income
- 33. a market dominated by a single seller