Unit 1 Vocab

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Across
  1. 3. the influence of government using taxes and spending
  2. 5. the branch of economics that studies behaviors as a whole
  3. 9. the rate of prices increasing over time
  4. 11. the willingness and desire to buy goods for a specific price
  5. 13. a type of economic system where supply and demand is, without any government interruption
  6. 14. when the recession ends and a new expansion begins
  7. 17. the percentage from an amount of money that is paid over time
  8. 19. economic system that has both public and private enterprise
  9. 20. a market where the industry is dominated by certain participants in which they have influence over a certain market/industry.
  10. 21. the specific good or service that is available
  11. 26. something that motivates a person to do a certain action
  12. 27. is what you have to give up in order to buy what you want
  13. 30. the process of various sellers trying to offer better products, lower prices, and other advantages to choose their idea over someone else's.
  14. 32. when the GDP expands and the unemployment rate declines
  15. 33. the demand for a good/service that is greater than the availability of the good/service.
Down
  1. 1. a cycle of economic expansions and recessions
  2. 2. system that relies on its customs, history, and time-honored beliefs
  3. 4. a philosophy/term that refers to no government interference in the economy
  4. 6. when the GDP reach to the maximum limit
  5. 7. a type of economy where production, investment, and prices are determined by the government
  6. 8. people who buy goods to satisfy what they need
  7. 10. of Production land, labor, capital, and entrepreneurship
  8. 12. a singer seller that has no close alternative options
  9. 15. a person who is not employed but seeking for employment
  10. 16. simply what you give up when you make a choice
  11. 18. where a quantity of a product demanded is bigger than the quantity supplied.
  12. 22. difference between revenue and cost associated with
  13. 23. a branch of economics that studies the behaviors of an individual and businesses
  14. 24. the supply exceeding its demand
  15. 25. the process where goods and services are sold and produced
  16. 28. action by the government to influence private economic activity
  17. 29. branch of economics that studies the theories of different money.
  18. 31. when the GDP decreases and higher unemployment rate