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Crossword Puzzle
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Across: 3 - the additional amount charged to you on your loan for borrowing money 5 - When you can no longer make payments on your home loan and you are forced to turn the house over to the bank 8 - an if statement 10 - Money borrowed from a loan officer to purchase property that is paid over time 11 - you own it and use it, like farms, tools, livestock, and furniture 13 - Term coined by Smith to suggest that individuals who are motivated only by private interest will nevertheless be guided by the market 14 - Economist who in 1776 published 'The Wealth of Nations' noting the foundation of a new individualist philosophy, classical liberalism 15 - takes resources and transforms them into goods and services 16 - Theory held by Marx that the value of a commodity is proportional to the labor embodied in its production 17 - the role of money and trade in economic life and the desirability of active state intervention in the economy 19 - doctrine that the state should largely leave the economy to its own devices. 20 - An economy in which there are substantial public and private sectors 21 - mode of life 22 - Loan that inflates to a larger payment after 5-10 years of paying a lower amount 23 - An economist who advocates classical theory, classical liberalism, and classical economics and government should only intervene when necessary

Down: 1 - Methods of production in which individual workers specialize in particular tasks rather than making everything themselves 2 - separating different parts of the production process of any good or service 4 - more output than necessary for consumption 5 - The economic system that preceded capitalism. Relations of class were between lord and serf. 6 - An economist who accepts capitalism and advocates government intervention when market failures occur. 7 - study societies production and distributions are organized 8 - Schedule that breaks down how much of your montly payment is going towards the loan and how much is going towards interest 9 - loan rate that does not change over the term of the loan 12 - society should not be concerned with gluts 14 - Adjustable Rate Mortgage 16 - Means of production that includes raw materials and the land upon which productive activity takes place 18 - Economic system in which the basic resources and capital goods of the society are privately owned