Econ EOCT words

123456789101112131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263
Across
  1. 5. System in which producers and consumers decide what gets made and for whom.
  2. 6. Those things which humans can put to productive use.
  3. 8. Desire to organize the factors of production in order to make easy money.
  4. 9. Food, shelter, & clothing.
  5. 11. system in which what is produces is what has always been produced.
  6. 13. A type of government regulation that will not allow the price of a good or service to rise above a certain level
  7. 16. That amount of benefit a person, business, or government receives once the cost of their decision is considered.
  8. 19. A decrease in the general level of prices of goods and services.
  9. 20. Individuals and businesses freely choose to exchange goods, services, & resources for something else of value.
  10. 23. Forced common ownership of factors or production.
  11. 25. Schedule of quantities offered for sale at all possible prices in a market.
  12. 26. A type of government regulation that will not allow the price of a good or service to drop below a certain level.
  13. 27. System consisting of elements of more that none system that makes up and economic framework.
  14. 31. of Living/ Quality of life based on ownership of necessities and luxuries that make life easier.
  15. 37. a natural resources that cannot be renewed over time.
  16. 40. All the factors of production that go into producing a good or service.
  17. 41. Something that is advantageous or good.
  18. 42. The study of how individuals,businesses,and nations can best allocate their limited resources.
  19. 44. All of the raw materials in nature that are used to produce what people need or want.
  20. 46. Money paid to an investor in exchange for the use of their money.
  21. 48. One strategy for dealing with scarcity.
  22. 49. to stop or decrease the rules that an industry must follow.
  23. 51. Factors of production such as land, labor, capital, & entrepreneurship.
  24. 52. New products that perform a task or fulfill a need that no previous products could perform or full or at least not nearly as well.
  25. 53. Making Model/ in deciding how to deal with scarcity a person must go through this process.
  26. 54. The rate at which goods and services are produced.
  27. 55. of Labor The act of splitting up work into smaller and more specialized tasks.
  28. 56. goods and or services provided by the government because society needs them regardless of how profitable they might or might not be.
  29. 59. Taxes on imports.
  30. 60. This refers to all the structures and equipment involved in the manufacturing process.
  31. 61. Products used to make other goods or provide services.
  32. 62. Lack or adequate resources to obtain all of one's wants.
  33. 63. The ability to own one's own property in a key element in a market economy because it provides incentives, so the government usually tries to protect these rights.
Down
  1. 1. The amount of a good or service produced.
  2. 2. A theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state.
  3. 3. Economic system in which private citizens own and use the factors of production in order to generate profits.
  4. 4. In order to avoid and economic crisis that government will from time to time jump in and interfere with the natural economic cycle.
  5. 7. The devotion of resources to a specific task.
  6. 10. Investment in people.
  7. 12. System in which the government owns most of the property and means of production.
  8. 14. Charging an extremely high price for a product in order to take unfair advantage of a given situation.
  9. 15. the act of giving up one thing of value to gain another thing of value.
  10. 17. Any invention or change in process that greatly improves something that already exists.
  11. 18. Investment in capital goods and human capital.
  12. 21. Items purchased for final use by individuals, households, or firms.
  13. 22. A natural resource that can be replenished over time.
  14. 24. All human contributions to a production process.
  15. 28. The cost of the decision one it is weighed against the benefits.
  16. 29. Goods and services people desire that they would obtain if they could.
  17. 30. This is the specific form of labor that consists of the creative, managerial, and risk taking capabilities involving in starting up and running a business.
  18. 32. The money that producers make after the have paid for all their costs.
  19. 33. The nation's central bank.
  20. 34. Combination of desire, ability, & willingness to buy a product.
  21. 35. taking money from citizens who have it, usually through taxes, and giving it to those who don't.
  22. 36. intervention into business practices by a level of government by means of rules or laws
  23. 38. All natural resources used in the production of a good or service.
  24. 39. The role of consumer as rule of the market when determining the types of goods and services produced.
  25. 43. Money paid by the government to make up for losses in an industry.
  26. 45. A theory or system or social organization.
  27. 47. Using a resource that could bring immediate benefits for the purpose of gaining greater benefits at a later time.
  28. 50. Cost/ The value of the alternative option that is lost when an individual, business or government makes a decision.
  29. 57. A rise in general level in prices of goods and services.
  30. 58. Output is distributed equally among citizens.