Economics
Across
- 1. are the raw materials provided by our environment
- 4. electronic funds transfer at point of sale.
- 6. scarcity not enough resources to satisfy all needs and wants ie resources are scarce in relation to how much we would like to have them
- 8. durable goods goods which don’t last long eg food
- 10. using the raw materials from the land
- 11. of demand states that producers will want to make a product that can be sold for a high price and a great profit.
- 12. converting the raw materials to other products through manufacturing
- 14. giving something up in order to receive something else that we want to have
- 17. goods goods that cannot be easily replenished
- 22. people who buy goods or pay for services
- 24. the talents possessed by people
- 25. is someone who manufactures goods and services
- 27. a business which receives and lends money to the public at a profit and which is guaranteed by the government.
- 28. how a nation chooses to generate and distribute wealth
Down
- 2. goods and services that people think are the necessities of life eg food, clothing, shelter
- 3. the physical resources produced by humans to produce other goods and services eg machinery, buildings
- 5. tasks that are performed for other at a cost eg hair cut
- 7. transferring the goods to the community
- 9. cost is the loss of opportunity to buy the next best thing
- 11. tender money used in a country which is legally authorised by the government.
- 13. resource something that can be used to generate wealth ie the factors in the production of goods and services-
- 15. are the goods and services that assist us to enjoy a good standard of living.eg DVD,
- 16. goods goods that can be replenished-water
- 18. the people in a company who make the major decisions
- 19. Price price at which the consumers are willing to buy and the producers are willing to sell
- 20. the study of how wealth is created and distributed.
- 21. goods goods which last are meant to last a long time eg washing machine
- 23. visible/ tangible things that people buy eg TV
- 26. money used in a country which is legally authorised by the government.