Economics Chapter 1

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Across
  1. 2. economic ____, sustained period of time when a nation's output of goods and services increase
  2. 3. tools, equipment, and factories used in production of goods and services
  3. 6. a problem all societies face
  4. 8. social science dealing with the study of how people satisfy seemingly unlimited and competing wants with with the careful use of scare resources
  5. 11. basic requirement for survival
  6. 13. ability or capacity of a good or service to be useful and give satisfaction to someone
  7. 14. people with all their abilities
  8. 15. market where goods and services are offered for sale
Down
  1. 1. production _____ frontier
  2. 4. the worth of a good or service
  3. 5. _____ of production; the four include land, capital, labor and entrepreneurship
  4. 7. tangible economic product
  5. 9. good intended for final use by consumers instead of businesses
  6. 10. way of expressing or communicating a need
  7. 12. ____ of value , contradictions between low value of essentials and high value of non-essentials