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Chapter 2

Across
A rise in general prices
Profit __ driving force encouraging people to improve their material
__ economy; government makes the decisions
When private citizens own the factors of production
Economy in which people carry on their economic affairs freely
Private property__; people can own and control their possessions
Buyers and sellers willingly engaging in market transactions
__ income; income that does not change
Consumer__; role of consumer as ruler of market
Down
__economy; based on habits and customs
When organizations are better off in the end than at the start
__economy; supply/demand help people make decisions and allocate resources
Used to describe the American economy
Struggle among sellers to attract consumers
Social__; federal program of benefits that cover most working people
Economic__; an organized way a society provides for wants and needs