Economics Vocabulary

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Across
  1. 3. System goods or services are exchanged for other goods or services without using money
  2. 4. the activity or or condition of competing
  3. 6. an economy in which production, investment, prices, and incomes are determined centrally by a government
  4. 9. things we want; not necessary for survival
  5. 10. the state of being scarce or in short supply; shortage
Down
  1. 1. things we must have for survival
  2. 2. an economy based on custom and tradition/command; decisions are based on tradition of the community or family
  3. 5. a science concerned with the process or system by which goods and services are produced, sold, and bought
  4. 7. a market economy where there is some government intervention
  5. 8. an economy that relies chiefly on market forces to allocate goods and resources and to determine prices