Economics
Across
- 3. increase in a nation's total output of goods and services over time
- 11. market economy in which privately owned businesses have the freedom to operate for a profit with limited government intervention
- 13. market where the factors of production are bought and sold
Down
- 1. mutual dependency of one person's, firm's, or region's economic activities on another's
- 2. sum of people's skills, abilities, health, knowledge, and motivation
- 4. way of thinking about a choice that compares the cost of an action to its benefits
- 5. quality of life based on ownership of necessities and luxuries that make life easier
- 6. division of work into a number of separate tasks to be performed by different workers
- 7. simplified version of a complex concept or behavior expressed in the form of an equation, graph, or illustration
- 8. assignment of tasks to the workers, factories, regions, or nations that can perform them more efficiently
- 9. meeting place or mechanism that allows buyers and sellers to come together
- 10. market where goods and services are bought and sold
- 12. measure of the amount of output produced with a given amount of productive factors