Our Puzzling Economy | Fundamental Economic Concepts

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Across
  1. 2. the process of concentrating on and becoming expert in a particular subject or skill.
  2. 3. a comprehensive measure of U.S. economic activity
  3. 5. the branch of knowledge concerned with the production
  4. 7. something required to live
  5. 8. the state or quality of producing something
  6. 13. something desired
  7. 16. monetary amount something is priced at
  8. 18. there are 4 of these
  9. 21. the marketplace where final goods or services are sold to businesses and the public sector
  10. 22. describes the vast difference seen in the prices of certain essential goods and non-essential goods
  11. 24. person who comes up with a business idea
  12. 25. natural resources
  13. 26. an increase in the amount of goods and services produced per head of the population over a period of time.
Down
  1. 1. goods bought and used by consumers, rather than by manufacturers for producing other goods.
  2. 4. the state of being useful, profitable, or beneficial
  3. 6. a jop provided to people
  4. 9. the assets used by businesses in the course of producing their products and services
  5. 10. a good that does not quickly wear out
  6. 11. goods that wear out over time
  7. 12. the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.
  8. 14. owned workforce
  9. 15. a term economists use for all of the resources that businesses use to purchase, rent, or hire what they need in order to produce goods or services
  10. 17. wealth in the form of money or other assets owned by a person or organization
  11. 19. an item provided to fulfil needs and wants a desire
  12. 20. the assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.
  13. 23. basic problem in economics