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Across
1. An economy in which the economic questions are decided mostly by individuals in the marketplace.
4. Is the branch of economics that examines the behavior of the whole economy at once. 6. Means decisions are made by people acting separately from one another. 8. Is the social science that deals with how society allocates its scarce resources among its unlimited wants and needs. 10. Condition that occurs because peoples wants and needs are unlimited. 16. A system in which individuals take the risk of producing goods or services to make a profit. 17. The process of choosing which needs will be satisfied and how much of our resources we will use to satisfy them. 19. The quantities of a good that consumers are willing and able to purchase at various prices during a given period of time
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Down
2. Achieving the maximum benefit from a given amount and combination resources.
3. Is the part of an economy that is owned by the whole society and operated for its benefit. 5. Is decision making by government in the interest of society. 7. The incentive for individuals to choose in the best interest of society by pursuing their own self-interest. 9. The rivalry between two or more parties to gain benefits from a third party 11. Is the part of an economy that is owned by individuals and operated for their personal benefit. 12. Is the branch of economics that examines the choices of indiviuals concerning one product, one firm, or one industry. 13. Individuals who take the risk of producing a product for a profit. 14. Are goods that are privately owned and used to benefit only their owners. 15. Is a graphic representation of the quantities that would be supplied at each price. 18. Refers to the exchange activities between buyers and sellers of goods and services.
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