Economics Review - Management

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Across
  1. 3. The "Invisible Hand" means there is less ___________ involvement.
  2. 6. Adam Smith wrote a book about capitalism entitled, "The ___________ of Nations".
  3. 7. The 4 factors of production are Land, labor, entrepreneurship & ___________.
  4. 8. The study of economics of an entire country.
  5. 10. Another name for a command economy is this. Ends in "ism"
  6. 12. Tools are an example of this factor of production.
  7. 13. The first level of the channel of distribution is the ___________ (in our example, the farmer).
  8. 14. Coal is an example of which factor of production?
  9. 16. Adam ___________ is known as the "Father of Economics".
Down
  1. 1. Another name for market economy is this. Ends in "ism"
  2. 2. Economics is the study of the way a nation (or business or person) uses its limited resources to satisfy ___________ wants and needs.
  3. 4. Human resources is another name for this factor of production.
  4. 5. Examples of this type of economic system include Haiti, Alaska, Canada & Greenland. Ends in "ism"
  5. 6. The 3 basic economic questions a nation must answer are: (1) What goods and services will be produced, (2) How should the goods and services be produced and (3) For ___________ should the goods and services be produced?
  6. 9. Mixed economy is another name for ___________. Ends in "ism"
  7. 11. The study of economics of a small unit, such as a family or business.
  8. 15. This means that all resources are limited.