Across
- 3. A situation in which quantity demanded is greater than quantity supplied
- 5. A measure of happiness or satisfaction
- 9. Tax on goods produced abroad and sold domestically
- 10. A firm that is the sole seller of a product without close substitutes
- 12. Something that induces a person to act
- 13. A market structure in which only a few sellers offer similar or identical products
- 14. An increase in the overall level of prices in the economy
- 15. The value of everything a seller must give up to produce a good
Down
- 1. Government programs that supplement the incomes of the needy
- 2. The organized withdrawal of labor from a firm by a union
- 4. The property of society getting the most it can from its scarce resources
- 6. Total revenue minus total costs
- 7. The study of how society manages its scarce resources
- 8. A person for whom another person, called the agent, is performing some act
- 11. A worker association that bargains with employers over wages, benefits, and working conditions