chapter 1 vocabulary Crossword

the structure of production, distribution, and consumption of goods and services
an economy in which privately owned businesses operate and complete for profits with limited government regulations or interference
an economic concept meaning that your unlimited wants all fight for a piece of your limited resources
the choice of one item while giving up another
the loss of one alternative when one chooses another
price and supply tend to follow demand
a market situation in which only one seller produces the entire output of an industry or sells a product or service for which there is no substitution
law and legal actions designed to ensure fair trade and competition and to prevent monopolies in trade
government policies related to taking and spending
the total value of goods and services produced within a country in one year
a measurement of changes in the prices of selected consumer goods and services
a period of slowed economic growth
a period of rising prices that relates to personal money management
government policies that control the amount of money in circulation by controlling interest rates and credit terms
the study of the production, distribution, and consumption or use of goods and services
items produced
work performed
the buyer or user of goods and services
the application of scientific knowledge to practical uses and products development
the development and production of computer and telecommunications hardware, software, and services which are used to deliver information
the ever growing interconnection of economics among all of the countries of the world
buying products from other nations
selling products to other nations
an account of the flow of goods, services, and money coming into and going out of the country
the loss of enconomic power due to a country importing more than it is exporting over a period of time
a policy of discouraging imports through trade barriers such as tariffs or import quotas
any action taken to control or limit imports
a tax on imported products or goods
a limitation on the number or quantity of imports allowed in a country
the value of one currency compared to another
a common currency used in Europe among the nations participating in the economic and monetary union