Across
- 2. An equilibrium occurs when supply _______ demand
- 5. The ________ is driven by supply and demand
- 7. Step one of decision making process
- 9. Characterized by heavy government influence and extensive social services
- 10. People who are willing and able to work but who can not find a job
- 11. Are necessary for basic living
- 12. Supply exceeds demand
- 14. Conflict between unlimited wants and limited resources
Down
- 1. The law of supply states that if price _______, then quantity supplied by the producers will decrease
- 2. Economic decisions are not made by who
- 3. Demand exceeds supply
- 4. Rivalry exists among businesses to sell their goods and services
- 6. A depression is sometimes referred to as a
- 8. an abbreviation of Gross Domestic Product
- 13. Highest point of the business cycle(prosperity)