Business

4. is the study of how we choose to use scarce resources to satisfy our needs and wants
7. something that is essential for everyday survival
8. something that we buy to make our lives more comfortable
9. occurs when the amount demanded by customers equals the amount supplied by suppliers and the market price is agreed on
11. The sellers who have made their own goods
15. includes resources made by people to assist in the production of G&S
16. is made up of all people who are buying and selling

1. influences needs and wants
2. an item we consume to satisfy your needs and wants
3. the ability to see opportunity, manage risk and coordinate resources effectively
5. The buyers of products
6. Affects demand
10. describes natural resources used in the production of G&S
12. refers to when something is an insufficient supply
13. a job that we pay people to perform
14. the human effort used to produce G&S