Economics
Across
- 4. division of work into individualized tasks that are completed by those who do it best
- 6. any work, whether mental or physical, that contributes to the production of goods and services
- 8. mechanism that allows people to exchange goods
- 9. quantity of a good for sale at a certain price under certain conditions; the amount produced
- 11. economic term meaning "let things alone"
- 15. resources that include land and other raw materials
- 19. type of good used in the production and distribution of goods and services
- 20. Type of capitalistic system where the owner of much of the nation's capital is a powerful centralized apparatus called the collectivist state
- 21. this is the balance of exported goods and imported goods
- 23. economic system in which people are free to make their own economic choices
- 24. Type of capitalistic system where the majority of a nation's capital is owned by individuals
- 25. something it would be difficult to live without
- 26. this term refers to a good's limited availability
- 28. the establishment of colonies and territories to benefit their mother country
- 29. the amount of a good that is bought at a certain price
- 30. the industrial skills and scientific methods that make possible efficient production
Down
- 1. founder of modern economics
- 2. the value of all things that people own
- 3. Following natural resources, labor, capital & entrepreneurship, this is the fifth factor of production
- 5. type of goods produced for direct use of consumers
- 7. Anyone who produces goods or owns a share of some business that produces good
- 10. human desire to have and use a certain good
- 12. French economists that favored a "natural" economy, not one created by mercantilism
- 13. economic system that provides barely enough to keep a society alive
- 14. type of economic theory that states the free market is the best possible economic system
- 16. economic system in which decisions involving production, distribution and consumption of goods are based upon custom, heredity and caste
- 17. this term refers to a good's usefulness
- 18. the condition of enjoying many goods & services
- 19. people who use goods
- 22. the worth that consumers attach to a good or service
- 24. people who provide goods
- 27. economic system in which centralized authority determines the production and distribution of goods and services