Across
- 3. The price of a good people are prepared to pay
- 5. Someone who took goods from one person and sold it to another
- 6. Powerful micro-states within a large area with successful trading
- 7. A good with decreasing demand when consumer income increases
- 8. Private ownership of the means of a production and the pursuit of profit
- 12. The measure of what a good costs
- 13. A measure used to show the elastics in a good's demand
- 15. The price of everything goes up but wage remains the same
- 17. Goods a country sends OUT to another country
- 19. A policy of extending a country's power and influence through colonization, use of military force, or other means
- 21. Idea to control how goods and money were moved from one country to another
- 23. Raw material or agricultural product bought and sold
- 25. important aspect of supply and demand
- 26. Where market is not in Equilibrium
- 27. Two goods that work together to sell
- 28. The point where consuming more of something does not give satisfaction
Down
- 1. Originated in 1440; made to copy books a lot easier
- 2. Goods a country takes IN from another country
- 4. Will search for a better product until it meets marginal benefit
- 8. A policy of acquiring full or partial political control over another country to settle and exploit
- 9. The replacement of expensive products with less costly alternatives
- 10. A good with increasing demand when consumer income increases
- 11. Someone who purchases and uses goods
- 14. Quantity demanded and supplied become equal to each other
- 16. “All other things being equal” while ignoring reality or complexities
- 18. A change in purchasing power
- 20. A country that encourages its citizens to buy native goods rather than foreign goods
- 22. Good changes price but demand doesn't change
- 24. Originated in 1453, similar to Black powder, used for shooting weaponry