Across
- 2. A state in which there is not enough of something that is needed.
- 3. the loss of potential gain from other alternatives when one alternative is chosen.
- 7. something that motivates someone to action or greater effort, often as a reward offered for increased productivity.
- 8. The amount of product a consumer is able and willing to buy at a certain price.
- 9. A state in which opposing forces or influences are balanced.
- 11. A economy driven by competition among private businesses
- 13. more than what is needed or used; excess
Down
- 1. The rate at which goods are produced or work is complete
- 4. Where the elements of an economy are controlled by the government
- 5. Adam smith's theory,that the market system is based on the principle that each participant acts in their own self-interest
- 6. The economic theory that it is good for the economy when people spend an ever increasing amount of money on goods or services.
- 10. one company controlling one market.
- 12. A state of limited competition in which a market is shared by a small number of producers or sellers.
- 14. the amount of product a producer is willing and able to sell at a set price.ex: