Across
- 3. a market form in which a market or industry is dominated by a small number of sellers
- 4. a gov. program guaranteeing access to some benefit by members of a specific group & based on established right
- 8. philosopher best known for his defense of classical liberalism
- 10. a government-imposed price control or limit on how high a price is charged for a product
- 11. being useful, profitable, or beneficial
- 13. the least you can get paid
- 14. a political theory derived from Karl Marx
- 16. an intergovernmental organization which regulates international trade
- 18. measures changes in the price level of a market basket of consumer goods and services purchased by households
- 20. Series of statistical figures, such as the consumer price index or the gross domestic product
- 24. the broadest quantitative measure of a nation's total economic activity
- 26. A measure of the total output of a country that takes the gross domestic product (GDP) and divides it by the number of people in the country.
- 28. the theory or practice of shielding a country's domestic industries from foreign competition by taxing imports
- 30. the system by which the value of a currency was defined in terms of gold, for which the currency could be exchanged
- 32. English economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.
- 33. usually given to remove some type of burden
- 34. a range of economic and social systems characterised by social ownership and democratic control
- 36. an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade
- 38. having too much supply
- 39. a period of temporary economic decline during which trade and industrial activity are reduced
- 40. a policy or attitude of letting things take their own course
- 42. a policy followed by some international markets in which countries' governments do not restrict imports from, or exports to, other countries
- 43. a government- or group-imposed price control or limit on how low a price can be charged for a product
Down
- 1. the state or quality of producing something
- 2. a formal authorization or proposition
- 5. an economic measure of a negative balance of trade in which a country's imports exceeds its exports
- 6. the process by which the monetary authority of a country controls the supply of money
- 7. an economic and political system in which a country's trade and industry are controlled by private owners for profit
- 9. the level of employment rates where there is no cyclical or deficient-demand unemployment
- 12. The depreciation of a country's currency refers to a decrease in the value of that country's currency
- 15. to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources
- 17. American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis
- 19. being scarce or in short supply
- 21. big businesses that override the government
- 22. Fed, or the central banking system of the United States.
- 23. allows business owners to measure the additional benefits
- 25. the ability of a firm or individual to produce goods and/or services at a lower opportunity cost than other firms
- 27. a situation in which income exceeds expenditures
- 29. an economic system where few restrictions are placed on business activities and ownership
- 31. A Scottish moral philosopher, pioneer of political economy
- 34. running out of supply
- 35. a sustained increase in the general level of prices for goods and services
- 37. the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy
- 41. something that incites to action or exertion or quickens action, feeling, thought