economics test vocab

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Across
  1. 2. industries with businesses that sell directly to consumers
  2. 4. the resources needed to produce goods and services
  3. 9. countries with weak economies and a lower quality of life
  4. 11. people who organize, mange and assume the risk of businesses
  5. 12. raw materials and land
  6. 16. when factors of production are not distributed equally and businesses produce a narrow range of products
  7. 17. economy where government controls all the factors of production
  8. 18. money an individual or business has left after paying expenses
  9. 19. economy based on private ownership, free trade and competition- people are free to buy and sell what they wish
  10. 21. when a business grows due to an increase in one of the factors of production
  11. 26. a type of economy that most closely resembles a market system with private ownership of resources
  12. 28. few limits are placed on business activities- another name for US's capitalism
  13. 30. industries where businesses make finished products from raw materials
  14. 32. industries with businesses that provide services rather than goods
  15. 33. economy based on long established customs- focused on survival
  16. 36. industries where businesses use raw materials to make other products
  17. 37. combination of traditional, market and command economies
  18. 38. first level of industry- businesses that provide raw materials harvested from earth
  19. 39. businesses that do research such as librarians, computer programmers and scientists
  20. 40. system of producing, selling, and buying goods and services
Down
  1. 1. value of all goods and services produced in a country in a single year
  2. 3. industries where businesses focus on growing crops and raising livestock
  3. 5. value of the thing given up when a choice is made
  4. 6. a type of economy that most closely resembles a command system where government makes all decisions
  5. 7. industries with businesses that sell to other businesses
  6. 8. goods used to make other goods, like machinery and tools
  7. 10. countries with strong economies and a high quality of life
  8. 13. desire to have a good or service
  9. 14. a reducing of a business because a factor of production is in short supply
  10. 15. problem of having unlimited human wants in a world of limited resources
  11. 18. these are goods provided by the government with tax money such as schools
  12. 19. anything that is used in payment for goods or services
  13. 20. the use of money today, such as buying stock in a company, in order to earn future benefits
  14. 22. businesses where goods and services are exchanged such as wholesale, retail and service industries
  15. 23. labor in exchange for payment in the form of an hourly wage, or a salary
  16. 24. the amount of a good or service that is available for use
  17. 25. human time, effort and skills
  18. 27. money an individual or business has left after paying expenses
  19. 29. system in which one nations depends on another to provide goods and services it does not produce
  20. 31. the exchange of one good or service for another
  21. 34. benefits that influence economic activity- reason for working hard
  22. 35. a type of economy with elements of a market system but with certain industries controlled by government