Across
- 2. The movement of a Demand curve can be an increase or a decrease.
- 4. This is a tax on a foreign import.
- 7. the book shared the beliefs of a free market economy.
- 8. In an economy, this is the amount of a good or service provided by producers.
- 9. the amount of a product society wants to have.
- 10. Term for when supply of a good meets the demand of a good.
- 13. a law in economics that states when a price of a good increases so does the production. (Positive correlation)
- 16. This is the study of economics concerned with the single factors and decisions of individuals.
- 17. This is the concept that profit-driven individuals will provide for society’s needs.
- 18. a requirement that a society has to have to survive.
- 19. The drive that motivates one to do something.
Down
- 1. This is an economic theory and system predicated upon a country's trade and industry being controlled by private owners for profit, rather than by the state.
- 2. This is a circumstance when the supply of a good or service falls short of the amount demanded by consumers.
- 3. This is the practice of eliminating tariffs in order to maximize regional and interregional commercial trade.
- 5. French term meaning 'hands off', referring to the lack of government interference in the economy.
- 6. This principle of free market economics ensures that a variety of suppliers will result in an equilibrium price and higher production quality.
- 11. This is a circumstance when the supply of a good or service exceeds the amount demanded by consumers.
- 12. Having a short supply.
- 14. a law in economics that states when a price of a good increases the consumption decreases. (Negative correlation)
- 15. the country where Adam Smith was from.