This is the fundamental law of economics that asserts once the price of a good increases, its consumption decreases.

In an economy, this is the amount of a good or service purchased or desired for purchase by consumers.

In an economy, this is the amount of a good or service provided by producers.

This book articulated and codified the foundational beliefs of modern free-market economics.

This is the concept that profit-driven individuals will provide for society’s needs.

This is the practice of eliminating tariffs in order to maximize regional and interregional commercial trade.

This fundamental principle of free market economics ensures that a variety of suppliers will result in equilibrium price and high(er) production quality.

This is the study of economics concerned with the single factors and decisions of individuals.

This is an internal or external drive that motivates or encourages one to do something.

These were regulatory entities that determined prices, quality, production technique, employment, etc., in a given industry. Adam Smith advocated their removal as an impediment to market forces and innovation.

This is a requirement for an individual to continue a healthy life.

This is the state of being in short supply.

This is a circumstance when the supply of a good or service exceeds the amount demanded by consumers.

This is a circumstance when the supply of a good or service falls short of the amount demanded by consumers.

This is the term used to define when the supply of a good or service meets the amount demanded by consumers.

This is the country from which Adam Smith hails.

This French term means ‘hands off,’ often referring to a lack of government interference in the economy.

This is an economic theory and system predicated upon a country's trade and industry being controlled by private owners for profit, rather than by the state.

This is a tax on a foreign import.