Economics Key Words

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Across
  1. 4. Organization with authority to make decisions for the population
  2. 5. Situation where demand is greater than supply
  3. 11. Goods and services sold overseas
  4. 12. All human effort, both physical and intellectual
  5. 13. An organization that sells goods
  6. 16. Goods and services which we desire but don’t need
  7. 17. Basic necessities for life
  8. 20. The cost of the next-best alternative opportunity
Down
  1. 1. Place where goods and services are bought and sold
  2. 2. Action of only doing one part of the process
  3. 3. Final users of goods and services to satisfy their needs and wants
  4. 6. Purchase of new capital
  5. 7. Basic units used to make goods and services
  6. 8. Physical items used by consumer and services for a profit
  7. 9. Institution which handles money for households and firms
  8. 10. Payment earned by entrepreneurs
  9. 14. Income flows that are removed from the Circular Flow model
  10. 15. Ability to combine all resources to make something
  11. 18. Actions done for consumers by producers
  12. 19. Equipment used to make goods and services