INTRO to ECONOMICS Crossword

study of how people allocate limited resources, for nearly unlimited wants
study of individual units that make up the economy
the study of the overall aspects and workings of an economy
factors that motivate an individual to act or exert effort
a ____________ statement can be tested and validated
a ____________ statement can not be tested or validated
other things being equal
the difference between a nations total exports and total imports
taxes levied on imported goods and services
the price of a foreign currency
demand for a good or service that derives from the demand for another good or service
a graph of the relationship between the prices in the demand schedule and the quantity demanded at those prices
a consumer will buy more of a ____________ good as his income goes up
consumers buy more of an ____________ good as their income falls
two goods that are used together
two goods that are used in place of each other
this _____ of supply states that, other things being equal, the quantity supplied of a good rises when the price of the good follows
a payment made by the government to encourage the consumption or production of a good or service
occurs at the point where the demand curve and supply curve intersect
excess demand leads to
excess supply
lowest hourly rate that firms may legally pay their workers
the production a firm makes
goods needed to make outputs