Economic Choices and Systems

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