Economics Chapter 3 Crossword

the force that encourages people and organizations to improve their material well being
The concept that everyone can compete in the marketplace
The concept of giving everyone the same legal rights
The concept that people have the right and privilege to control their possessions as they wish
this allows people to decide what agreements they want to enter into
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
The rivalry among sellers to attract customers while lowering costs
A private organization that tries to persuade public officials to act or vote according to the interest of the group's members
requires companies to give consumers important information about their products
The concerns of the public as a whole
The study of the behavior and decision making of entire economics
the studyof the economic behavior and decision making of small units such as individuals, families and businesses
This part of the economy involves the transactions of the government
The part of the economy that involves the transactions of individuals and businesses
The total value of all final goods and sevices produced in a particular economy
a period of macroeconomic expansion followed by a period of contractioon, or decline
someone who would not choose to pay for a certain good or service but would get the benefits of it anyway
A situation in which the market, on its own, does not distribute resources efficiently - example of free rider
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
an income level below that which is needed to support families or households