Across
- 2. is the change in the total cost that arises when the quantity produced has an increment by unit.
- 5. that is gained goes to the business's owners
- 6. is defined as a service or other asset used to produce goods and services that meet human needs and wants
- 9. the body of persons engaged in such activity, especially those working for wages.
- 13. A method for systematically selecting among possible choices that is based on reason and facts
- 17. An individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale.
- 20. generally refers to financial wealth especially that used to start or maintain a business.
- 21. An economic system that features characteristics of both capitalism and socialism
- 22. the exchange of one thing for another of more or less equal value, especially to effect a compromise
- 23. The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry.
- 24. Regulations the US Environmental Protection Agency's Audit Policy is an example of
- 25. in which decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
Down
- 1. when the price charged is more than or less than the equilibrium price determined by market forces of demand and supply.
- 3. comprises all naturally occurring resources whose supply is inherently fixed. Examples are any and all particular geographical locations, mineral deposits, and even geostationary orbit locations and portions of the electromagnetic spectrum
- 4. The cost of an alternative that must be forgone in order to pursue a certain action.
- 7. is the act of buyers and sellers freely and willingly engaging in market transactions.
- 8. is a situation when the price charged is more than or less than the equilibrium price determined by market forces of demand and supply.
- 10. The additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.
- 11. A system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale.
- 12. are goods or services that are not necessary but that we desire or wish for
- 14. Dividing a job into many specialized parts, with a single worker or a few workers assigned to each part
- 15. fundamental economic problem of having seemingly unlimited human wants in a world of limited resources.
- 16. Broadcasting services.
- 18. A method of production where a business or area focuses on the production of a limited scope of products or services in order to gain greater degrees of productive efficiency within the entire system of businesses or areas.
- 19. is the social science that seeks to describe the factors which determine the production, distribution and consumption of goods and services.