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Economics Test Two Crossword Puzzle

Name:______________________________

                       Date: _________ Period:____
Across
A graph that shows the quantities supplied at each and every possible price in the market
A risk taking individual in search of profits
Rule stating that more will be demanded at lower prices and less at higher prices
An economic system in which privately owned businesses have the freedom to operate for a profit with limited government intervention
Act of buyers and sellers freely and willingly engaging in market transactions
The struggle among sellers to attract consumers
Production cost that varies as output changes
The amount of a product a producer or seller would be willing to offer for sale at all possible prices in a market at a given point in time
Competing products that can be used in place of one another
Production period long enough to change amount of variable and fixed inputs used in production
Case of demand elasticity where the percentage change in the independent variable, usually price, results in larger change in the dependent variable, usually quantity demanded or supplied
Elasticity where a change in the independent variable, usually price, generates a proportional change of the dependent variable, quantity demanded or supplied
Down
Income that does not increase over time
Government payment to encourage or protect a certain economic activity
Additional satisfaction or usefulness obtained from acquiring or consuming one more unit of a product
Costs of production that do not change when output changes
Difference between the revenue from sale and the full opportunity cost of resources involved in producing the sales
Extra cost of producing one additional unit of production
Principle that more will be offered for sale at higher prices than at lower prices
Production period so short that only variable inputs can be changed
Driving force that encourages people and organizations to improve their material well-being
Combination of quantities that someone would be willing and able to buy over a range of possible prices at a given moment
Graph showing the quantity demanded at each and every possible price that might prevail in the market at a given time
Products that increase the use of other products
type of elasticity in which a change in the independent variable, usually price, results in a larger change in the dependent variable, usually quantity demanded or supplied
Rise in the general level of prices
Fuel made from wood, peat, municipal solid waste, straw, corn, tires, landfill gases, fish oils, and other solid waste