Macroeconomics Review (2023 version)

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Across
  1. 1. A _____ economy has traits of different economic systems
  2. 3. A ______ economy is based on basic needs for survival
  3. 7. The amount of something available
  4. 9. The rivalry between businesses that forces them to create a better product for consumers
  5. 10. The European _____ is a political and economic organization of European countries with free movement of goods, services, capital, and people
  6. 11. A tax on an import
  7. 13. This is the money a business takes in by operating
  8. 14. When a country refuses to trade with another specific country
  9. 17. ______ Resources are raw materials from the Earth
  10. 18. If supply is low and demand is high, prices will likely _____.
Down
  1. 1. A ______ economy is shaped by what consumers wish to buy
  2. 2. If supply is high and demand is low, prices will likely ____.
  3. 4. ______ costs are the things businesses have to spend money on
  4. 5. A trade deal between the 3 largest North American countries that generally permits free trade between the countries
  5. 6. How many people wish to pay for something
  6. 8. Revenue being higher than the amount of your operating costs
  7. 12. The process of creating a business
  8. 15. A limit set by a country's government on the level of certain imports to be allowed in
  9. 16. A _____ economy is controlled by the government
  10. 17. A ______ is an organization that is formed to serve a public benefit instead of trying to build up profits (only use letters in the boxes; don't use a hyphen)