Unit 4 Assessment Crossword

4. A tax system where the tax rate increases as a person’s income increases.
6. A tax that the government imposes on the money individuals or businesses earn. Typically a percentage of income.
8. In the context of supply, cost refers to the amount the supplier pays to bring the good or service to market.
11. When you combine the supply and demand curves, this is the point where they intersect!
13. Money, goods, and services circulating between households and firms.
14. The ability of a firm to dictate/determine the price of a particular good in the market.
16. A market where there are identical goods sold by many companies.
19. A key economic principle that explains how the price and quantity of goods in a market are determined by their availability. (Sellers)
21. A single seller of a good or service controls the entire market.
22. A tax system where everyone pays the same percentage of their income, regardless of how much they earn.
23. What each player gains or loses based on the outcome.
24. An organization of workers that tries to improve working conditions, wages, benefits such as healthcare, and job security.
25. A business owned and operated by one person.

1. A market with many firms (producers) selling similar but not identical goods.
2. The process in which union representatives and company management meet to negotiate a new labor contract.
3. A situation where one person’s gain is exactly balanced by another person’s loss.
5. The amount of money a consumer pays for a good or service—the amount the supplier receives for the sale of a good or service.
7. An organized work stoppage intended to force an employer to address union demands.
9. A market that is dominated by a few sellers.
10. The classic game theory game where two rational players choose to stay silent or snitch.
12. The study of decision-making in situations where the outcome depends on the choices of multiple people (or players).
15. A key economic principle that explains how the price and quantity of goods in a market are determined by the consumers' desire for them. (Buyers)
17. The possibility of losing something valuable.
18. A company that owns multiple businesses in different industries.
20. A business owned and operated by two or more people.