Across
- 2. The physical capital that supports a society’s activities- roads, power lines, water facilities, schools
- 5. The study of how people and societies use limited resources to satisfy unlimited wants
- 7. One in which allocation of resources is determined by free operation and supply and demand
- 10. The quantity of a product or service offered for sale at a particular price
- 12. The status of a budget in which revenue is greater than expenditures
- 14. The total value of all goods and services produced by a national economy in a year
- 20. Ease with which a savings vehicle can be turned into cash
- 24. The percentage cost of credit on a purchase, on a yearly basis
Down
- 1. A government’s policy of not interfering with its nation’s economy
- 3. An economic system where decisions to allocate resources are made by the government
- 4. Market situation in which there is only one seller of a particular good or service
- 5. Ban on importing goods
- 6. Tax on imports
- 8. Business monopoly of the 19th century, control of the firm was in the hands of trustees
- 9. An economic system in which most resources for production are privately owned, and decisions are made by individuals and business firms
- 11. The total of all money owed by the federal government
- 13. A contraction in economic activity that lasts at least six months
- 15. The measurement of GDP in dollars of a base year
- 16. Machines, tools, buildings, and other things used to produce goods and services
- 17. The quantity of a product or service that would be purchased at a particular price
- 18. One who buys goods and services for personal use
- 19. Economic practice of the 16-18 century where a nation’s wealth is measured by its stock of gold and silver
- 21. A general rise in prices
- 22. A plan for dealing with future income and expenses
- 23. A place where goods and services are bought and sold