Economic Choices and Systems

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Across
  1. 3. resources/The initiative to combine natural, human, and capital resources
  2. 5. left after selling goods and services and costs of operating a business have been paid
  3. 6. economy/Goods and services are owned and controlled by the people
  4. 8. property/Right to purchase, use, and discard of things of value
  5. 9. of the decisions made for production, distribution, and consumption of goods and services to satisfy needs and wants
  6. 11. decision-making/Process of choosing which needs or wants will be satisfied
  7. 12. and organizations that determine which goods and services will be available for consumption
  8. 15. economy/Combines elements of the command and market economies
  9. 16. that can be consumed at the time of purchase to satisfy needs and wants
  10. 19. price/The point where supply and demand are equal
  11. 20. cost/Value of the next-best alternative that is forgone to produce or obtain another product
  12. 22. of giving up something for gaining something else
  13. 23. resources/People using efforts, knowledge, and skills at work to produce goods and services
  14. 25. that can be purchased to satisfy needs and wants
Down
  1. 1. that offer the same goods to the same customers
  2. 2. enterprise/Economic system which freedom to consume and produce goods and services exists
  3. 4. of choice/Opportunity to make choices of goods and services and accept consequences of decisions
  4. 7. required for living
  5. 10. that exists when wants or needs exceed resources available
  6. 13. that are purchased to add comfort or pleasure to life
  7. 14. and uses the goods and services
  8. 17. economy/Economics system in which the government owns resources and dictates what is produced
  9. 18. economy/Economic system in which decisions are based on customs and centered on family
  10. 21. resources/Goods and money used in the production of goods and services
  11. 24. resources/Raw materials supplied by nature