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Economics Vocabulary

Olivia Miller

Use the Vocabulary Menu to complete the vocabulary. Since there are so many vocabulary words this week, you will have a week and a half to complete. Please don't wait until the last day to complete.

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Across
3.a type of economy in which people are free to buy, sell, and produce whatever they want
6.A market structure in which barriers to entry are low and many firms compete by selling similar, but not identical, products.
9.A market in which there are many buyers but only one seller.
11.the struggle among producers for the dollars of consumers
14.Economic decisions are made by individuals or the open market.
15.the market structure that exists when there are many small businesses selling one standardized product
16.An economic system in which the government controls a country's economy.
18.A market structure in which a few large firms dominate a market
19.market-based economic system with limited government involvement
20.economic model that pictures income as flowing continuously between businesses and consumers
Down
1.all natural resources used to produce goods and services
2.The amount of goods available
4.A person who starts up and takes on the risk of a business
5.Limited quantities of resources to meet unlimited wants
7.the desire to own something and the ability to pay for it
8.An economic system based on private ownership of capital
10.whatever must be given up to obtain some item
12.goods and services are produced the way it has always been done
13.Human effort directed toward producing goods and services
17.the force that encourages people and organizations to improve their material well-being

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