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9 Weeks Exam Review

Name:_______________________________
Across
Determines how producers choose to allocate resources
The change in output from hiring one additional worker
Author of Wealth of Nations
Causes more producers to enter the market
Economics as it should be
When the government protects people from economic hardship
Land, Labor, Capital, Entrepreneurship
A surplus in products to sell
Price adjusting until the maximum amount of goods and services are sold
How a society answers the basic economic questions.
Whats left after subtracting costs from revenue
When people buy or don't buy based on a trend
Moving from private to public ownership
Down
Someone who buys goods for personal use
The suppliers in a product market
When both parties benefit from a business deal
When consumers have more choices about selecting different products
What a person can produce in a given time frame
The product of price and quantity of an items sold
The side effect of a transaction
The willingness and ability of consumers to buy something