ECONOMICS

5. unlimited needs and wants but limited resources
7. a sum of money that is still owed
9. a study of how people produce, consume and share wealth
10. man made resources that contribute into the production of goods and services
13. natural resources
14. the skills required to combine the factors of production
15. involves the transfer of goods and services to another person or business often in exchange for money

1. the effort and skills that contribute into the production of goods and services
2. someone who is hired to preform specific
3. an increase in the level of prices in goods and services
4. a social of economic system in which manufacturing industries are prevalent
6. advantage when a business is able to out preform a similar business in the market
8. someone who purchases goods and services for personal use
11. putting money in to a business aiming to make profit
12. money obtained in return for labour or service