Economics Review Crossword

1. ___________ is what motivates development of new products.
5. One of the four factors of production
6. People who ultimately determines the success of a product.
8. The relationship between markets can best be described as?
10. The amount of output in a specific amount of time with a given amount of resources is referred to as ____________.
11. A __________ Economy has elements of socialism and capitalism.
13. ________ is when prices rise.
14. __________ freedom supports personal liberty.
16. The government provides National ____________.

1. The choices made by consumers and ___________ drive the economy.
2. _______ money is NOT backed by a physical good.
3. _______ goods are expected to be used for more than 3 years.
4. Gross _______ Product is how we measure an economy's size.
7. ___________ and utility determine something's value.
9. This is the term for negative economic growth.
12. In traditional economies, economic decisions are primarily determined by
15. _______ cost describes the difference in value between the best option and the next best alternative?