Across
- 4. What will start to develop as firms increase market power.
- 5. A Mixed economy is a combination of Market & _____ economy.
- 6. When there are under-provision goods/services in a market & under-allocation of the resources used to make these goods/services, it leads to _____.
- 7. The other name for a Market economy.
- 8. Types of goods which have harmful impacts on consumers/society.
- 10. The other method to address Market failure with the Government taking control & ownership of firms that were in the private sector is called.
- 11. What does Government Intervention help reduce by taxing the rich & give to the poor.
- 15. The thing government choose to support so as to help them remain competitive.
Down
- 1. The factor that an economy doesn't have that makes it a market economy.
- 2. The term called when "the rich get richer and the poor get poorer".
- 3. A factor in Market economy that is lowered by firms to maximize profits.
- 9. What is needed to be promoted so the opportunity gap between the rich & poor gets reduced.
- 12. A Characteristic of Market Economy is Self Interest, which maximizes workers _____.
- 13. In order for the Government to provide essential services, public and merit goods, they need to earn _____.
- 14. There are 4 common methods to address market failure which are indirect taxation, _____, maximum prices, & minimum prices.