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Chapter 1 Crossword Game

Across
Inverse relationship between price and quantity demanded
Human wants for goods, services, and resources exceed what is available
Looks at the economy as a whole
Allows workers to focus on the part of the job that they have an advantage in
Based on facts. Avoids value judgements
Measures the size of total production in an economy
A model that shows alternative ways that an economy can use its scarce resources
Most desirable alternative given up when you make a choice
Changes in price affect purchasing power of consumer's income
Businesses supply goods and services based on demand
Different quantities of goods that sellers are willing and able to sell
Down
Different quantities of goods that consumers are able and willing to buy
The money spent by businesses to improve their production
Value Judgements, Not based on facts
Direct relationship between price and supply
Occupations stay in the family, what you produce is what you consume
Focuses on actions of individual agents within the economy
Economic effort is devoted to goals passed down from a ruler or dictator
Maximum legal price a seller can charge for a product
Minimum legal price a seller can charge for a product