Across 2. The market where goods and services are bought and sold. (2 Words) 5. The market for the factors of production-- land, labor, capital, and entrepreneurship. (2 Words) 7. Any place where people buy and sell goods and services. 8. The idea that consumers have the ultimate control over what is produced because they are free to buy what they want and to reject what they don't want. (2 Words) 9. The principle that the government should not interfere in the marketplace. 11. A tool that economists use to understand how market economies operate. (3 Words) 12. An economic system that is based on private ownership of the factors of production.

Down 1. The rights of individuals and groups to own businesses and resources. (3 Words) 3. A trade in which both traders believe that what they are getting is worth more than what they are giving up. (2 Words) 4. Involves all the actions sellers, acting independently, do to get buyers to purchase their products. 6. A situation in which people concentrate their efforts in the activities that they do best. 10. A financial gain that a seller makes from a business transaction.