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