Chapter One Vocab

123456789101112131415161718192021222324252627282930313233
Across
  1. 4. Social movement that was aimed at promoting
  2. 8. Basic requirements for survival
  3. 9. Interdependence Mutual dependence of economic activities
  4. 11. of Labor Division of work into a number separate tasks
  5. 15. good Good intended for final use
  6. 17. Fundamental econ problem
  7. 18. Market Market in which goods and services are bought and sold
  8. 19. Tools, equipment, and factories
  9. 22. goods Item that wears out fewer than 3 years
  10. 23. Natural resources
  11. 25. Markets Markets in which productive resources are bought and sold
  12. 26. good Good that lasts for 3 years
  13. 27. possibility curve Diagram represents all possible combos
  14. 29. Work or labor performed for someone
  15. 31. Social science deals with satisfying seemingly
  16. 32. Something you like to have but don't need
  17. 33. Meeting place or mechanism through which buyers and sellers of economic product conme together
Down
  1. 1. ModelSimplified version of a complex concept or behavior
  2. 2. Enterprise Economy Market economy in which privatly owned businesses have the freedom to operate
  3. 3. Domestic Product Monetary value of all final goods
  4. 5. Ability or capacity of a good or service to be useful
  5. 6. Assignment of tasks to the workers
  6. 7. Measure the amount of output produced
  7. 10. Analysis Comparison of the cost of an action to its benefits
  8. 12. Cost Cost of the next best alternative
  9. 13. goods Tools, equipment, or other manufactured goods
  10. 14. Tangible economic product that is useful
  11. 16. Risk-taking individual
  12. 17. Living Quality of life based on ownership
  13. 20. People with all their abilities and efforts
  14. 21. Alternative that must be given up
  15. 24. Growth Increase in a nations total output of goods
  16. 25. of Production Productive resources needed to produce goods
  17. 27. of Value Apparent contradiction between the high value of nonessential items
  18. 28. Monetary worth of a good
  19. 30. Caital Sum of peoples skills
  20. 32. Sum of tangible economic goods