Economics Vocabulary

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Across
  1. 3. the development of skills for a specific kind of work
  2. 6. __________ economy: government controls all aspects of production and consumption
  3. 8. raw materials from nature used in production
  4. 11. the most desirable alternative in a decision
  5. 12. basic requirements for human survivial
  6. 13. __________ economy: resources are privately owned and controlled by the private sector
  7. 14. the amount that consumers are willing and able to buy
Down
  1. 1. the limited nature of society's resources
  2. 2. the products that an organization produces
  3. 4. resources used in producing goods and services
  4. 5. The study of scarcity and choices
  5. 7. desires that can be satisfied by consumption
  6. 9. a person who takes on the risk of a business
  7. 10. the amount that producers are willing and able to sell
  8. 13. __________ economy: market based with limited government involvement