Type
Crossword
Description

Economic system based on private ownership of the means of operation for profit Capitalism
Economic system in which the central government makes all decisions on the production and consumption of goods and services Command economy
The struggle among producers for the dollar of consumers, the rivalry Long sellers to attract consumers while lowering the cost Competition
Person or over not Seshan that uses economic services f person or over notation that uses economic services or commoditives Consumer
Goods that are ultimate rather than use in production of another good consumer good
The removal of some government controls over at market Deregulation
Economic systemsThe method used by S a society to produce and distribute goods and services Economic systems
Using resources in such a way as to Max the production of goods and services Efficiency
The power of the government to take private property and convert it to public use Eminent domain
Concept or idea of fairness in economics Equity
Freedom to prosper within a country without the intervention from the government or the economic author Freedom
Increase the amount of the population over period of time GRowth
The act of redirecting resources from being consumed today so that they may create benefits in the future, the use of assets to earn the income or profit investment
Economic systems in which decisions on production and consumption of goods and services are based on voluntary exchange and markets Market economy
Entitlement program that benefits low income families, some people with disabilities and elderly people in nursing homes Medicaid
National health insurance program that helps pay for health care for people over the age of 65, or who have certain disabilities Medicare
Economic system that combines the free market with very limited government Mixed economy
The cost that is suffered by a third-party as a result of an economic transaction Negative externality
License that gives a inventor of a new product the exclusive right to sell it for a certain period of time Patent
Occurs when the consumption of the production of a good calls a benefit to a third-party Positive externality
The sale or transfer of state owned businesses to an individual Privatization
Value of an output produced Productivity
The force that encourage people and organizations to improve their material well-being Profit motive
Right theoretical search showing in force constructs in the economics for determining how a resource or economic good is used and owned Property
Programs and Stabley S-t by the US government to provide housing for low income families, disabled people, and the elderly Public housing
The business of supplying a common the or ser The business of supplying a commodity or service. Service rendered in public interesr Public services
Financial instrument that represents an ownership of possession in a publicly Financial instrument that represents an ownership of possession in a publicly trade corporation, I created your relationship with the government body, right to ownership as a representative Security

Economic vocab Crossword

Type
Crossword
Description

Limited quantities of resources to meet unlimited wants. Scarcity
Resources that are used to make ALL goods and services. Productive resources
Food, air, and shelter and attention we desire. Wants & needs
The most desirable alternative given up as the result of a decision. Opportunity cost
An alternative we sacrifice when we make a decision. Trade-off
Natural resources that are used to make goods Land
The effort that a person devotes to a task for which that person is paid. Labor
Any human-made resource that is used to produce other goods and services. Capital
The process of designing, launching, and running a new business. Entrepreneurship
use an economy's resources. Possibilities curve
choices decision making
Satisfaction or utility that a person receives from consuming an additional unit of a good or service. Marginal benefit
The cost of producing one more unit of a good. Marginal costs
The concentration of the productive efforts of individuals and firms on a limited number of activities. Specialize
elimination of government power in a particular industry, usually enacted to create more competition within the industry. Deregulation
the state or quality of producing something, especially crops. Productivity
Situation in which allocation of goods and service is not efficient Market failure
theoretical socially-enforced constructs in economics for determining how a resource or economic good is used and owned. Property rights
service that is provided without profit to all members of a society, either by the government or a private individual or organization Public goods
product that must be purchased to be consumed, and its consumption by one individual prevents another individual from consuming it. Private goods
Where the government, rather than the free market, determines what goods should be produced Command system
economic system consisting of a mixture of either markets and economic planning, public ownership and private ownership, or free markets and economic interventionism. Mixed system

fundamentals of economics Crossword

Type
Crossword
Description

a steady long term increase in real GDP economic growth
the loss of potential gain from other alternatives when one alternative is chosen opportunity cost
goods used to produce more goods capital goods
a person who uses a good or service consumers
another name for a centrally planned govt. comand economy
there is no such thing as a free lunch TINSTAAFL
give up one benefit to gain another trade-off
the rivalry among sellers trying to achieve such goals as increasing profits competition
a general increase in prices across an economy inflation
a risk-taker in search of profits entrepreneur
a income that does not increase even when prices go up fixed income
study of how people satisfy unlimited wants through careful use of realtive scarce resource economics
physical objects that somone produces goods
the power of consumers to decide what gets producded consumer sovereignty
a financial gain profit
economic system that relies on habit traditional economy
any government system that provides monetary assistance to people with an inadequate or no income. social security
gross domestic product GDP
how much it is worth in money value
the accumulation of products that are tangible, scarce, useful, and transferable from one person to another wealth
mental/physical work or production labor
shortage scarcity
an economy in which prices and wages are determined mainly by supply and demand market economy

Economics Chapter 2 Vocabulary Part 1 Crossword

Type
Crossword
Description

occurs when individual workers focus on single tasks, enabling each worker to become more efficient and productive specialization
the worker, firm, region, or country with the lowest opportunity cost of producing an output should specialize in that output law of comparative advantage
the ability to make something using fewer resources than other producers require absolute advantage
the laws, customs, manners, conventions, and other institutional underpinnings that encourage people to pursue productive activity rules of the game
an expansion of the economy's production possibilities, or ability to produce economic growth
each additional increment of one good requires the economy to give up successively larger increments of the other good law of increasing opportunity cost
producing the maximum possible output from available resources, meaning the economy cannot produce more of one good without producing less of the other good efficiency
an economic system shaped largely by custom or religion production possibilities frontier- shows the possible combinations of two types of goods that can be produced when available resources are employed efficiently traditional economy
an economic system in the process of shifting from central planning to competitive markets transitional economy
describes the U.S. economic system, where markets play a relatively large role market economy
an economic system that mixes central planning with competitive markets mixed economy
an economic system in which all resources are government-owned and all production is directed by the central plans of government pure command economy
an economic system with no government so that private firms account for all production pure market economy
the set of mechanisms and institutions that resolves the what, how, and for whom questions for an economy economic system
the doctrine that states that government generally should not intervene in the marketplace "let them do as they please" laissez faire
property owned by individuals or companies, not by the government or the people as a whole private property
an economic system characterized by private or corporate ownership of capital goods; investments that are determined by private decision rather than by state control; and determined in a free market free enterprise
to sell state-run firms to idividuals privatize
large farm leased from the state to groups of peasant farmers collective
requiring strict obedience to an authority, such as a dictator authoritarian
a political system characterized by a centrally planned economy with all economic and political power resting in the hands of the central government communism
a social and political philosophy based on the belief that democratic means should be used to evenly distribute wealth throughout a society socialism
the powers of the consumers to decide what gets produced consumer sovereignty
term economists use to describe the self-regulating nature of the marketplace invisible hand
the struggle among producers for the dollars of consumers competition
an expectation that encourages people to behave in a certain way incentive

Microeconomics Crossword

Type
Crossword
Description

A diagram used to represent the monetary transactions in an economy. Circular Flow Diagram
The market place in which final goods or services are offered for purchase by consumers, businesses and public sector. Product market
A type of business entity that's owned and run by one person. Sole proprietorship
A type of business owned or run by two owners. Partnership
A financial gain. Profit
A company or group of people authorized to act as single entity. Corporation
A state of limited competition, in which a market is shared by a small number of producers. Oligopoly
Only one market gives services Monopoly
A type of market that sells similar products. Monopolistic Competition
The part of economics concerned with single factors and the effects of individual decisions. Microeconomics
A market where a business can go and purchase resources to produce goods and services Resource Market
Buyers will exchange with sellers when they want to purchase goods or services from sellers. Medium of exchange
All else equal, an increase n price results in an increase in quantity supplied Law of Supply
All other factors being equal, as the price of a good or service increase Law of Demand
Price of good or service of which quantity supplied is equal to quantity demand Market clearing price
A measure used in economics to show the responsiveness of the quantity demanded of a good or service to change in its price Price elasticity of demand
A measure used in economics to show the responsiveness or elasticity of the quantity supplied of a good or service to a change in price. Price elasticity of Supply
A market that has a broad range of cometitors who are selling identical products Pure Competition
Something that motivates or encourages someone to do something Incentive
An excess of production Surplus

Economic Terms Crossword

Type
Crossword
Description

The way a society organizes to produce, distribute, and consume goods and services. Economic System
Tradition determines how a society is organized to produce, distribute, and consume goods/services. Traditional
Individuals make most of the major decisions about production and distribution of goods and services Market
A central authority makes most of the major decisions about production and distribution of goods and services Command
Economic decisions are made by individuals, businesses, and government. Mixed
The worth of a good or service that is determined by the total cost of economic resources that went in to producing and providing a good or service. Value and Price
The amount of a resource, good, or service sellers are willing to sell at possible prices. Supply
How much people want of a good or service at a certain price at a certain time. Demand
People have desires that can be satisfied with goods or services Economic Wants
Human, natural, and capital resources used to produce a good or service. Economic Resources
Wants are unlimited and resources are limited. Scarcity
Goods and services are produced in better quality, quantity, and speed when someones focuses on one particular task. Specialization
People, businesses, and nations depend on others to produce their goods. Interdependence
Any place that allows buyers and sellers to trade goods and services Marketplace
Something that is used to buy and sell goods or services. Currency

Economics Vocabulary Crossword

Type
Crossword
Description

Known as the father of modern economics Adam Smith
Favoring or enforcing strict obedience to authority, especially that of the government, at the expense of personal freedom Authoritarian
An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state Capitalism
A model of the economy in which the major exchanges are represented as flows of money, goods and services between economic agents Circular Flow Model
A group of entities that share or are motivated by at least one common issue or interest, or work together to achieve a common objective Collective
An economic system in which inputs are based on direct allocation Command Economy
A social, political, and economic ideology movement whose ultimate goal is the establishment of the communist society Communism
The rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix: price, product, distribution, and promotion Competition
In economics, consumer sovereignty is the assertion that consumer preferences determine the production of goods and services Consumer Sovereignty
The separation of tasks in any economic system so that participants may specialize Division of Labor
Implies an economic state in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency Economic Efficiency
Equity or economic equality is the concept or idea of fairness in economics, particularly in regard to taxation or welfare economics Economic Equity
The freedom to prosper within a country without intervention from a government or economic authority Economic Freedom
An increase in the amount of goods and services produced per head of the population over a period of time Economic Growth
the condition of having a stable income or other resources to support a standard of living now Economic Security
refers to an absence of excessive fluctuations in the macro-economy Economic Stability

economics Crossword

Type
Crossword
Description

an economic system in which individuals are free to compete and earn a living Market
an economic system in which buyers and sellers are free to exchange goods and services free
a desire to make a profit Profit motive
when you put money into a business invest
The exclusive right granted by law, to publish or sell a written, musical, or artistic work copywright
Gives a person the exclusive right to make and sell an invention patent
limited resources scarcity
law that states businesses will provide more products when they can sell them at higher prices law of supply
law that states buyers will demand more products when they can buy them at lower prices law of demand
Money invested in buildings, machines, and other property used to produce goods capital
Businesses owned by one person sole proprietorships
organizations that provide goods and services without seeking a profit nonprofit
Businesses where two or more people share responsibilities partnerships
Corperation profits paid to stockholders dividends
Another form of business organization corporation
people who buy corporate stocks stockholders
money a person pays to use something rent
Total amount of money made after deductions net
total amount of money made before deductions gross
human effort used to produce goods and services labor
The amount of work produced by a worker per hour productivity
The decision makers of a business entrepreneurs
An economic system based on private ownership of the meens of production capitalism
Companies that control all production of a good or service monopolies
this occurs when two or more companies combine to form one company merger
A form of business organization in which several companies create a board of trustees so they no longer compete with eachother trust
An economic system that combines elements of free and command economies mixed
production is based on customs and traditions usually passed down traditional
government owns almost all of the capital, tools, and equipment command

Unit 6 Vocabulary Crossword

Type
Crossword
Description

The total value of goods produced and services provided in a country during one year. GDP
An economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's individual citizens and businesses. Market Economy
A form of government run by a small number of people such as wealthy landowners, royalty or powerful military figures. Oligarchy
Economic system in which traditions, customs, and beliefs help shape the goods and the services the economy produces, as well as the rules and manner of their distribution. Traditional Economy
Power is vested in the people, who rule either directly or through freely elected representatives. Democracy
A system that divides up power between a strong national government and smaller local governments Federal
An economic system combining private and public enterprise Mixed Economy
A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. Entreprenuer
Democratic form of government in which the party with the greatest representation in the parliament forms the government, its leader becoming prime minister or chancellor. Parlimentary Democracy
An economy in which production, investment, prices, and incomes are determined centrally by a government. Command Economy
Goods that are used in producing other goods, rather than being bought by consumers. Capital Goods
The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country. Human Capital
A system of government where a head of government is also head of state and leads an executive branch that is separate from the legislative branch. Presidental Democracy
Government has power over everything. Unitary
Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain. Natural Resources
A group of states that are joined together by a central government that has limited powers of authority Confederate
a system of government by one person with absolute power. Autocracy

US Economics Crossword

Type
Crossword
Description

A series of economic expansion and contractions. BUSINESSCYCLE
Human made items that are used to produce goods Capital
A socialist or communist economy in which the government controls the goods and distribution of goods COMMANDECONOMY
Based on the one party rule. Communism
A measure of the change in cost of the goods and services most commonly bought by consumers CONSUMERPRICE
A deep and long lasting contradiction; creates unemployment Depression
An official ban on trade or other commercial activity with a certain country Embargo
The private ownership of the means of production, free markets, and the right of individuals to make most economic decisions FreeEnterprise
The market value of all the goods and services produced in a nation within a specific time period. GROSSDOMESTICPRODUCT
The use of government spending to encourage economic activity through increasing the demand for goods KEYNESIANECONOMICS
A policy where the government cannot not interfere in business matters LAISSEZFAIRE
The belief by the of a society that something is proper and has the consent of the governed LEGITIMACY
The amount of money that employers may legally pay their employees MinimumWage
A situation in which any one seller controls production and supply or pricing of a product MONOPOLY
The money owed by a national government NationalDebt
The government owns and controls capital and also sets prices. Socialism
The capital raised by a business through subscription of a piece of a corporation bought by the consumer Stock
Where stocks and bonds are traded StockMarket
A work stoppage by employees in order to gain better benefits Strike
Government policies designed to stimulate the production of goods. SUPPLYSIDEECONOMICS
The number of people who are out of work possibly due to a depression Unemployment
Income paid by the government to people who need the money to live Welfare
The government has no control of natural resources and capital goods Free Market
The level of wealth, comfort and material goods StandardofLiving
The relationship between the output of goods and services and the input of resources PRODUCTIVITY

Economics Chapter 3 Crossword

Type
Crossword
Description

the force that encourages people and organizations to improve their material well being Profit motive
The concept that everyone can compete in the marketplace Open opportunity
The concept of giving everyone the same legal rights Legal equality
The concept that people have the right and privilege to control their possessions as they wish Private property rights
this allows people to decide what agreements they want to enter into Free contract
This allows people to decide what and when they want to buy and sell, rather than forcing them to buy or sell at certain times or prices Voluntary exchange
The rivalry among sellers to attract customers while lowering costs Competition
A private organization that tries to persuade public officials to act or vote according to the interest of the group's members Interest group
requires companies to give consumers important information about their products Public disclosure laws
The concerns of the public as a whole Public interest
The study of the behavior and decision making of entire economics Macroeconomics
the studyof the economic behavior and decision making of small units such as individuals, families and businesses microeconomics
This part of the economy involves the transactions of the government Public sector
The part of the economy that involves the transactions of individuals and businesses Private sector
The total value of all final goods and sevices produced in a particular economy gross domestic product
a period of macroeconomic expansion followed by a period of contractioon, or decline Business cycle
someone who would not choose to pay for a certain good or service but would get the benefits of it anyway free rider
A situation in which the market, on its own, does not distribute resources efficiently - example of free rider Market failure
this is an economic side effect of a good or service that generates beneefits or costs to someone other than the person deciding how much to produce or consume Externality
an income level below that which is needed to support families or households Poverty threshold