Name: _____________________________________ Date: _______ Period: _______
Economics Chapter 3
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3U S I N E S S C Y C L E
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5U B L I C D I S C L O S U R E L A W S R
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8R O F I T M O T I V E A N L
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13 T U C S E C O
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14 X T E R N A L I T Y U N E
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15 U B L I C S E C T O R M
16 A R K E T F A I L U R E T
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17 R I V A T E S E C T O R T C R
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18 N T E R E S T G R O U P S
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19 O V E R T Y T H R E S H O L D
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20 R O S S D O M E S T I C P R O D U C T
Across
3. a period of macroeconomic
expansion followed by a period of
contractioon, or decline
5. requires companies to give
consumers important information about
their products
8. the force that encourages people
and organizations to improve their
material well being
12. The concept that everyone can
compete in the marketplace
14. this is an economic side effect of a
good or service that generates beneefits
or costs to someone other than the person
deciding how much to produce or
consume
15. This part of the economy involves
the transactions of the government
16. A situation in which the market, on
its own, does not distribute resources
efficiently - example of free rider
17. The part of the economy that
involves the transactions of individuals
and businesses
18. A private organization that tries to
persuade public officials to act or vote
according to the interest of the group's
members
19. an income level below that which is
needed to support families or households
20. The total value of all final goods and
sevices produced in a particular economy
Down
1. The concerns of the public as a
whole
2. the studyof the economic behavior
and decision making of small units such as
individuals, families and businesses
4. The concept that people have the
right and privilege to control their
possessions as they wish
6. someone who would not choose to
pay for a certain good or service but
would get the benefits of it anyway
7. The study of the behavior and
decision making of entire economics
9. The concept of giving everyone the
same legal rights
10. this allows people to decide what
agreements they want to enter into
11. This allows people to decide what
and when they want to buy and sell,
rather than forcing them to buy or sell at
certain times or prices
13. The rivalry among sellers to attract
customers while lowering costs