Across
- 2. The "profit ____" drives innovation and risk-taking
- 6. Economy where supply and demand regulate outcomes
- 10. Economic system based on private ownership and profit motive
- 11. Economy guided by customs and beliefs, often using barter
- 12. Total money earned before subtracting costs
- 14. System of privately owned and operated businesses
- 15. Expense that changes depending on how much you produce
- 17. Amount of money a buyer pays for a product
- 18. One seller controls supply of a good or service
Down
- 1. Money left over after subtracting costs from revenue
- 3. Economy where the government makes all economic decisions
- 4. Property Ownership rights that individuals have; opposite of public ownership
- 5. Trade of goods or services without money
- 7. Rivalry between sellers that keeps prices fair and quality high
- 8. Business expense that stays the same regardless of production level
- 9. Market shared by a small number of producers
- 13. Blend of market freedom and government control; most modern economies
- 16. Money spent on fixed and variable costs