Across
- 4. Market structure wherein only one firm is producing a given product
- 6. Voluntary exchange of one thing for another thing
- 9. Two words, classification of a market based on it's competitive features
- 10. Two words, goods consumed less often as incomes go up
- 11. Synonym for rivalry; in economics, refers to rivalry between firms to supply and consumers to buy
- 12. The system of economics in which economic questions are answered by society
- 13. General willingness of firms to produce a specific quantity of a product at various prices
- 14. When firms secretly agree to work together to remove competition
Down
- 1. Anything accepted as a medium of exchange, a unit of account, and a store of value
- 2. Two words, goods consumed more often as incomes go up
- 3. Two words, cost of acquiring resources needed to make products
- 5. Used to define something that produces as much as it can with as little waste as it can
- 7. General willingness of consumers to buy a specific quantity of a product at various prices
- 8. Products a given country sells to other countries
- 10. Products a given country buys from other countries