Beginning Economics

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Across
  1. 3. results from a society not having enough resources to produce all the things people want and need.
  2. 6. provides to productivity. Investing in education and training can have a substantial payoff in the future.
  3. 7. a good that lasts more than three years, when regularly used.
  4. 10. economic system with very little innovation, elders decide how scarce resources are used and they do not embrace change.
Down
  1. 1. economic system where the government owns and controls all factors or production.
  2. 2. market for goods and services. Households act as consumers and businesses act as suppliers.
  3. 4. model that shows how markets connect businesses and people in the economy.
  4. 5. tool or equipment used to produce another product.
  5. 8. study of how people try to satisfy their needs and wants through careful use of scarce resources.
  6. 9. something you find satisfying or useful.