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Ch. 2, Sect. 2: US Economy Characteristics

Name: ______________________________
Period: _______
Across
This commission protects the public against risk of injury from consumer products.
This term represents the desire to earn a profit.
This distinguishes a good or service from others to make it more attractive to the target market.
Profit incentive is synonymous with this term.
This term refers to a law that controls the way that a business can operate.
This economic freedom states that products, prices, and services are determined by the market, not the government.
This is the amount of money left after all the costs of production have been paid.
This government administration protects the public against impure and unsafe food, drugs, and cosmetics.
This keeps prices low, quality of products high and provides a wide array of goods and services.
This is the power to take private property for public use.
Down
This economic freedom represents the voluntary exchange between buyers and sellers in the marketplace.
This term means that there is an existence of high start-up costs or other obstacles that prevent new competitors from easily entering the industry or area of business.
Free-enterprise system and free market are synonymous with this term.
This refers to resources that are owned and controlled by households and businesses rather than government.
This term states that society's goals will be met as individuals seek their own interest.
This is an economic theory that is strongly opposed to any government intervention in business affairs.
This occurs when two or more organizations act independently to supply their products to the same consumer group.
He wrote "The Wealth of Nations".
This amendment grants the government the right to take private property for public use.