Across
- 4. also known as a scarcity
- 7. a person who risks money and resources to start a business
- 10. refers to how little demand is changed by price
- 14. where supply exceeds demand
- 15. added value or usefulness of a product
Down
- 1. renewed economic growth
- 2. the money needed to start and operate a business
- 3. movement of an economy through four recurring phases
- 5. the degree to which demand for a product is affected by its price
- 6. a consumers willingness and ability to buy a product at a certain price at a given period of time
- 8. highest economic growth
- 9. the value added by having a product where customers can buy it
- 11. supply and demand are equal
- 12. prolonged recession
- 13. measure of the goods and services inside a country