Economics

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Across
  1. 3. - All buildings, equipment and human skills used to produce goods and services.
  2. 5. decrease - A decrease in the quantity demanded at every price; a shift to the left of the demand curve.
  3. 6. - Anything of value that is acceptable to a lender to guarantee repayment of a loan.
  4. 9. advantage - The principle of comparative advantage states that a country will specialize in the production of goods in which it has a lower opportunity cost than other countries.
  5. 11. - A sustained and continuous decrease in the general price level.
  6. 14. of supply - Factors that influence producer decisions about goods, services, or resources.
  7. 15. - The effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms.
  8. 16. - A certificate reflecting a firm's promise to pay the holder a periodic interest payment until the date of maturity and a fixed sum of money on the designated maturity date.
  9. 17. - Products that are used with one another such as hamburger and hamburger buns
  10. 19. advantage - The ability to produce something with fewer resources than other producers would use to produce the same thing
  11. 21. - People whose wants are satisfied by consuming a good or a service.
  12. 22. - (1) In monetary theory, the use of someone else's funds in exchange for a promise to pay (usually with interest) at a later date. The major examples are short-term loans from a bank, credit extended by suppliers, and commercial paper. (2) In balance-of-payments accounting, an item such as exports that earns a country foreign currency.
  13. 23. of production - All resources used in producing goods and services, for which owners receive payments.
  14. 25. economy - A mode of economic organization in which the key economic functions--what, how, and for whom--are principally determined by government directive. Sometimes called a "centrally planned economy."
  15. 27. - A schedule of how much consumers are willing and able to buy at all possible prices during some time period.
Down
  1. 1. increase - An increase in the quantity demanded at every price; a shift to the right of the demand curve.
  2. 2. resources - Goods made by people and used to produce other goods and services. Examples include buildings, equipment, and machinery.
  3. 4. spending - The purchase of consumer goods and services.
  4. 7. - Options among which to make choices.
  5. 8. - A worker who completes all steps in the production of a good or service.
  6. 9. - A legal entity owned by stockholders whose liability is limited to the value of their stock.
  7. 10. - The gain received from voluntary exchange.
  8. 12. line
  9. 13. - The manner in which total output and income is distributed among individuals or factors
  10. 17. - In macroeconomics, the total spending, by individuals or a nation, on consumer goods during a given period. Strictly speaking, consumption should apply only to those goods totally used, enjoyed, or "eaten up" within that period. In practice, consumption expenditures include all consumer goods bought, many of which last well beyond the period in question --e.g., furniture, clothing, and automobiles.
  11. 18. making - Choosing from alternatives the one with the greatest benefit net of costs.
  12. 20. of trade - The part of a nation's balance of payments that deals with merchandise (or visible) imports or exports.
  13. 21. - Standards or measures of value that people use to evaluate what is most important.
  14. 24. - The direct trading of goods and services without the use of money.
  15. 26. commercial - A financial institution accepts checking deposits, holds savings, sells traveler's checks and performs other financial services.