Economics test one Crossword
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
                                           
 
 
Special Characters:
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Down: 1) Buys and sellers Willingly exchange in Market transactions 3) when a change in a goods price has little impact on the quantity demanded These are goods which 4) Places where goods and services are bought and sold and where prices are set. When you work, you sell your labor to your employer, in return, they pay you – (factor market) - Product market – people shop, and buy goods or service. - Consumers – people who purchase goods and services. - Consumer poverty– buyers rule the market 6) quantity of goods and services that producers are willing and able to offer at various possible prices during a given time period7) 18th century Scottish philosopher and economist most famous book – The Wealth of Nations (1776).9) natural rights “life, liberty, and property” 10) form of communication intended to persuade its viewers readers or listeners to take some action11) Degree to which changes in a goods price affect the qaunity demand by consumers.13) Marx believed religion = “opiate of the masses” Religion was created by the "haves” to place to the “have-nots” Belief in an after-life encouraged the have-nots to accept their lower status 14) Marx believed pride in one’s country diverted action from the real issue- class expolation. 17) existis becuase of class explotation18) form of communication intended to persuade its viewers readers or listeners to take some action20) Existis beacuase of proverty (poor people steal to survive) Across: 2) A social structure in which classes are abolished and property and in commonly controlled 5) individual self interest benefitting all of society 8) 19th century German philosopher founder of Marxism (Communism) 12) Freedom to own, use, or dispose of, our own property as long as we don’t interfere with the rights of others.15) There are few or no readily avabible substitutes The products cost represents a small portion of consumer income 16) Producers supply more goods and services when they can sell them at gigher prices, producers supply fewer goods and services when they can sell them at lower prices19) When a small change ina goods price causes a major, opposite change in quantity demanded.21) The desire, willingness and ability to by a good or service. – Remember – A consumer must want, be willing, and have the money to purchase.22) Economic syestem in which private citizens own and use the means of production in oder to seek profit.23) Due process clause – citizens cannot be deprived of due process of law.24) the individual freedom to make economic decisions
 

 

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