Across
- 3. Point where supply and demand balance.
- 4. Rising prices that reduce purchasing power.
- 6. Core economic problem: unlimited wants, limited resources.
- 8. When demand is greater than supply.
- 10. Place where buyers and sellers strike a deal.
- 12. Acronym measuring a nation’s total economic output.
- 13. More of this is offered when prices are higher.
- 14. Competition where branding sets firms apart.
- 17. Land, labour, and capital are examples.
- 18. Those who direct resource use by spending.
- 19. Rivalry among firms that keeps prices down.
Down
- 1. Overall measure of material and non-material wellbeing.
- 2. Few firms dominate in this type of market.
- 5. Industry sector focused on services like teaching.
- 7. A market with only one seller.
- 8. Excess stock when supply outweighs demand.
- 9. In economics, it rises as price falls.
- 11. Buyers want it low, sellers want it high.
- 15. They create goods and services for sale.
- 16. Achieved when resources are used with minimal waste.