HOUSEHOLD IN ECONOMICS

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Across
  1. 3. manufactured good used to produce other goods and services
  2. 6. they make requirements from the market and purchase goods and services from firms
  3. 7. Their activities promote the development of countries, and those activities also enhance the standard level of people’s quality of life.
  4. 10. The use of goods and services by households
  5. 12. the amount of goods or services that a unit of currency can buy at a given point in time
  6. 13. collected by one entity in the supply chain, such as a manufacturer or retailer, and paid to the government
  7. 15. consumption good that can “deliver useful services to a consumer through repeated use over an extended period of time”
  8. 16. the money got by households by selling land, labor, capital, and entrepreneurial activity
  9. 17. refers to all income collectively received by all individuals or households in a country
  10. 18. natural resouce which is used in production
  11. 20. owners of small production units
Down
  1. 1. also known as disposable personal income (DPI), is the amount of money that an individual or household has to spend or save after income taxes have been deducted.
  2. 2. used in the production process to produce output
  3. 4. all human effort in production
  4. 5. any good purchased for consumption and not used later to produce another
  5. 8. consist of one or more persons who live in the same housing unit
  6. 9. any consumer goods in an economy that are either consumed in one use or used up over a short period of time, they are also called are also called soft goods or consumable go
  7. 11. the risktaker in production
  8. 14. they need to pay for income tax
  9. 19. paid by an individual or organization to the entity that levied the tax