Economics Section 1

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Across
  1. 2. Risk taking & decision making in business
  2. 4. ___ goods. Goods provided by the government (paid for through taxes) that everybody benefits from
  3. 5. Place where goods & services are exchanged - (may be visible or invisible).
  4. 7. ___ capital. Capital products that are used up in the production process
  5. 9. Items produced by the factors of production (usually for economic gain).
  6. 12. Limited availability of resources (ones that will run out eventually), not enough to satisfy all the wants.
  7. 13. ___ goods. Goods that are perceived to have a negative impact/effect on society/individuals.
  8. 14. The human effort (mental & physical) required to produce something.
  9. 15. Total value of goods & services produced & exchanged within a country
Down
  1. 1. Using up goods/services
  2. 3. A representation of possible output if the factors of production are used efficiently
  3. 6. ___ capital. Capital goods that do not need replacing in the short term
  4. 8. ___ goods. Goods that are wanted because they provide satisfaction to their owner.
  5. 10. Something that fulfils a need, often not a physical object (banking, teachers, policemen)
  6. 11. Goods/materials that are used for the production of other items. Not consumed in their own right.