Across
- 1. When tax revenue exceeds expenses you have a _______ surplus.
- 3. "Survival of the Fittest" economic system
- 8. Largest USA trade imbalance
- 10. Economic resources also known as the factors of
- 12. Period in which demand begins decreasing
- 14. When the amount a country imports is more than it exports you have a trade _________.
- 15. The US gets revenue from _________ taxes
- 16. The starting age for the labor force
- 18. Rapidly falling GDP and business failures
- 22. Amount of money one country owes another
- 24. Main cause is reduced demand for goods and services
Down
- 2. Producing and selling goods within a country
- 4. The economist who wrote Wealth of Nations
- 5. Human Resources aka
- 6. How a nation decides to allocate resources
- 7. There are ______ cycles in the business cycle
- 9. Items bought from other countries
- 11. Examples of this economy are North Korea and Russia
- 13. Prices rise on goods and services
- 17. Goods and services sold to other countries
- 19. Production output compared to input
- 20. An economy that represents more than one kind of system
- 21. Dollar value of final goods and services
- 23. Advantage when a country specializes in a product over other countries