Principles of BMF - Unit 1a Vocabulary

Edit Answers
1234567891011121314151617181920212223
Across
  1. 4. occurs when the quantity of a product that producers are willing to supply matches the quantity consumers demand at a specific price
  2. 9. what the I stands for in AI
  3. 12. an economy in which decisions about what to produce, how to produce it, and for whom are based on customs, traditions, and beliefs
  4. 13. states that when price increases, consumers will demand less of a product since it is less affordable
  5. 14. the limited nature of resources compared to the unlimited wants and needs of humans
  6. 17. the amount of a good or service that producers are willing and able to offer for sale at various prices
  7. 18. when in economic trough, we might begin to see signs of this
  8. 20. one of the new ways AI can provide customer service and support online
  9. 21. decisions about what/how to produce and for whom to produce it is determined by supply and demand in this type of ecomony
  10. 23. during economic contraction, businesses may need to do this to employees (2 words)
Down
  1. 1. the ability to function in a world where communication and information are shared through tech - phones, internet, social media, etc
  2. 2. an economic system based on private ownership, free trade, and limited government involvement
  3. 3. the phase of the business cycle when investors become pessimistic
  4. 5. an economy in which some decisions are made by the government and others by private businesses and individuals
  5. 6. computer systems that can perform tasks that usually require human intelligence
  6. 7. the amount of a good or service that people are willing/able to buy at various prices
  7. 8. skills that use technology to communicate, collaborate, and solve problems effectively and responsibly (2 words)
  8. 10. the phase of a business cycle when business grows
  9. 11. states that when price increases, producers are willing to make more of a product; as it decreases, producers are less willing
  10. 15. the lowest point of the business cycle
  11. 16. the highest point of a business cycle
  12. 19. an economy in which the government controls all economic decisions
  13. 22. a country experiencing rapid economic growth has this type of economy