Across
- 2. a certificate of ownership in a corporation
- 3. the price paid for the use of borrowed money
- 4. natural resources that are used to make goods and services
- 5. physical objects such as clothes or shoes
- 6. the right to sell a good or service within an exclusive market
- 8. the rivalry among sellers to attract customers while lowering costs
- 16. the love of one’s country; the passion that inspires a person to serve his or her country
- 19. a system of allocating scarce goods and services using criteria other than price
- 20. a market dominated by a single seller
- 21. a required payment to a local, state, or national government
- 22. social welfare programs that people are “entitled to” if they meet certain eligibility requirements (i.e. Social Security)
- 25. a tax on imported goods
- 27. a national health insurance program that helps pay for health care for people over 65 or with certain disabilities
- 29. very high inflation
- 32. goods used in place of one another
- 33. the desire to own something and the ability to pay for it
- 34. anything that serves as a medium of exchange, a unit of account and a store of value
Down
- 1. situation in which quantity demanded is greater than quantity supplied; also known as demand
- 4. the legally bound obligation to pay debts
- 7. value of output
- 9. the study of how people seek to satisfy their needs and wants by making choices
- 10. coins and paper bills used as money
- 11. entitlement program that benefits low income families, some people with disabilities, and elderly people in nursing homes
- 12. the practice of negotiating labor contracts that keep unnecessary workers in a company’s payroll
- 13. an arrangement that allows buyers and sellers to exchange things
- 14. a product that is the same no matter who produces it, such as petroleum, notebook paper, or milk
- 15. money and other valuables belonging to an individual or business
- 17. the process used to produce a good or service
- 18. the financial gain made in a transaction
- 23. an organized work stoppage intended to force an employer to address union demands
- 24. a factor that can change
- 26. two goods that are bought and used together
- 28. the point at which quantity demanded and quantity supplied are equal
- 30. a government payment that supports a business or market
- 31. government aid to the poor
- 32. the amount of goods available