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Across 1. __________ economy: Decisions are made by individuals 7. The science which considers "production, distribution, and consumption of goods and services" 9. A ____________ curve represents the correlation between quantity supplied and price 10. ____________ Advantage: What one has when there is something he can produce better than others 11. This occurs in a market economy, where there is an exchange of goods and services 12. Something that changes behavior by offering a reward for a certain action 14. This good will decrease in demand when income increases 16. Equilibrium __________: The amount of a good/service which will be produced and consumed at equilibrium 18. Resources are ___________...there are not enough of them to satiate the wants of a society 19. A good that will decrease in demand when another good rises in price 23. A government price ____________ is when the government places the price below the equilibrium price 24. This is achieved when the economy is balanced between supply and demand 25. This good will increase in demand when income increases 27. When someone focuses on something they are particularly good at 28. Production ___________ Frontier: A graphical representation of the trade-offs in an economy with two goods 29. A ____________ curve represents the correlation between quantity demanded and price 30. Something, either a good or service, which can be used to produce something else

Down 2. "Everyone gets his or her fair share" 3. A demand curve has a ____________ slope 4. __________ economy: Decisions are made by a government 5. A supply curve has a ____________ slope 6. A government price ____________ is when the government places the price above the equilibrium price 7. An economy becomes __________ when it allocates its resources so that it takes advantage of all opportunities for production 8. A good that will increase in demand when another good rises in price 13. This is the trade-off with the greatest real "cost" (2 Words) 15. The means with which a good or service is produced; an advancement in this can increase supply 17. __________ economy: Decisons are made according to customs in a society 20. ___________ price: The price where the quantity demanded and quantity supplied are equal 21. This is a general term for the system that coordinates production and distribution in a society 22. ____________ Advantage: What one has when producing a good/service at a lower opportunity cost is lower than another 26. When there is not enough of a good or service available according to what consumers are willing or able to purchase 27. When there are more of a good or service available than consumers willing or able to purchase