Economics

1. People with all of their efforts, abilities, and skills
3. The study of how people try to satisfy what appears to be seemingly unlimited and competing wants through use of scarce resources.
6. Equipment, machinery, and factories used in production of goods or service.
7. Location or other mechanism that allows buyers and sellers to exchange.
10. Measure of output produced by a given amount of inputs in a period of time.
11. Tangible economic product that is useful, scarce, transferable, and used to satisfy wants and needs.
13. A way of expressing a need.
14. A risk-taker in search of profits who does something new with existing resources.

1. Natural resources.
2. Accumulation of products that are tangible, scarce, useful, and transferable.
4. The condition that results from society not having enough resources to produce all the things people would like.
5. Capacity to be useful and provide satisfaction.
8. Process of creating goods and services.
9. Value of all final goods, services, and structures built in the last 12 months.
12. Worth that is expressed in dollars or cents.
15. Basic requirement for survival.