Across
- 2. an economic system where companies are privately owned
- 5. quantity demanded exceeds supply
- 7. responsiveness of supply and demand based on economic factors
- 9. only one company controls supply
- 10. the reality that peoples wants always exceed the resources available to fulfill
- 11. a tangible item that has utility
Down
- 1. the decrease in the general level of prices in an economy
- 3. a tax placed on imported goods from foreign countries
- 4. a small number of companies control product supply
- 6. an item that is required or essential
- 8. quantity supplied exceeds demand
- 12. the increase in the general level of prices in an economy